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Mortgage Market Update
My Mortgage Company
Capital – Barrett
Tuesday, November 3, 2026
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What's your home worth today? |
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Hello! This week I want to walk you through something that often surprises homeowners—how much of their home they actually own.
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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 Check
You might have more home equity than you think
If you bought a few years ago or made extra payments toward your mortgage, there's a good chance your home has built up equity—the difference between what your home is worth and what you still owe. That equity can be useful. Some people tap into it with a home equity line of credit or loan to pay for repairs, education, or consolidate other debt. Others simply find comfort knowing they own more of their home than they did before. The catch is you won't know what you're working with unless you get a rough sense of your home's current value. It's worth a conversation to understand your options and whether accessing any of that equity makes sense for your goals right now. If you'd like to talk through what your equity position might look like, I'm here to help.
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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
Capital – Barrett
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