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Mortgage Market Update
My Mortgage Company
Peter Spinella
Tuesday, November 3, 2026
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What's your home actually worth today? |
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Home values don't stay frozen in time. If it's been a while since you've thought about what your house might be worth now, this one's worth five minutes of your time.
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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 Awareness
You may have built more equity than you realize
If you've been in your home for a few years, or if your neighborhood has appreciated, there's a good chance you have equity sitting there—the difference between what your home is worth and what you owe. That equity is yours, and it can be a real financial tool when you need it. Some borrowers tap it for home improvements, debt consolidation, or major expenses. Others leave it untouched and that's fine too. The point is knowing what you have. If you're curious whether your situation has changed enough to matter, I can help you get a clear picture. It only takes a conversation, and there's no obligation. If you'd like to talk through your home's current value and what that means for your options, let me know.
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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
Peter Spinella
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