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Mortgage Market Update
My Mortgage Company
Steven Carey
Tuesday, November 3, 2026
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What's your home equity worth right now? |
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I help borrowers understand their financial picture, not just at closing, but every step of the way. This week, let's talk about something powerful that's probably growing in your home right now.
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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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Building Equity
Your mortgage is building wealth—here's how to see it
Every payment you make builds equity in your home. That's real wealth sitting in your property, and a lot of people don't realize how quickly it adds up. The sooner you understand how much equity you have, the sooner you can make informed decisions about your financial future—whether that's refinancing, accessing a home equity line, or simply knowing your net worth. If you haven't checked your equity position in a while, it's worth doing. Market values shift, you've made payments, and circumstances change. I can help you pull together a clear picture of where you stand. It takes minutes and can open up options you didn't know you had. Let's talk about your equity position—reach out whenever you're ready.
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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
Steven Carey
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