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Mortgage Market Update
My Mortgage Company
Richard Pisnoy
Tuesday, November 3, 2026
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Do you know how much equity you have? |
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Hi there. I wanted to touch base about something many homeowners overlook—the growing value locked inside their home.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Equity & Borrowing
Your home's equity might be worth more than you think
As a homeowner, you've been building equity with every mortgage payment. That equity can be tapped into when you need it—whether for home improvements, debt consolidation, or major expenses. The amount you can borrow against depends on your home's current value and what you still owe. If your home has appreciated or you've paid down your balance significantly, you may have more available than you realize. It's worth checking in on, especially if circumstances have changed since you bought or last refinanced. I can walk you through what you might qualify for and whether it makes sense for your situation. Let's talk about how much equity you're sitting on.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Richard Pisnoy
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