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Mortgage Market Update
My Mortgage Company
Capital – Barrett
Tuesday, November 3, 2026
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How much equity are you sitting on? |
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One of the best parts of homeownership is that your payments actually build your net worth. Today I want to talk about what that really means for you.
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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 Building
What your home equity can actually do for you
As you make mortgage payments, you're building equity—ownership stake—in your home. Many homeowners don't realize how much they've accumulated, or what options that unlocks. Depending on how much equity you have and your situation, you might be able to tap into it for a major expense, consolidate debt, or make home improvements. The catch: accessing equity means taking on new debt or changing your loan terms, so it's worth thinking through carefully. If you're curious whether your equity position opens any doors for you, I'm happy to walk through what makes sense. Let's talk about what equity you have and whether it makes sense to use it.
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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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