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Mortgage Market Update
My Mortgage Company
Josh Nastal
Tuesday, November 3, 2026
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What's your equity actually worth? |
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Hi there. I want to walk you through something that changes the math for a lot of homeowners: the equity you've already built.
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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 & Refinancing
Your home's equity: what it means for your options
As you pay down your mortgage, you build equity—that's the difference between what your home is worth and what you still owe. Equity matters more than most people realize. It can open doors: a cash-out refinance lets you borrow against it for home improvements, debt payoff, or life expenses. It also improves your position if you ever need to sell or move. The amount of equity you have right now, combined with current rates and loan programs, shapes what options make sense for you. If you've been in your home a while or made improvements, you might have more equity than you think. It's worth a conversation to understand what's actually sitting in your property and whether any of those doors are worth opening. Let's talk about what your equity could do for you—reach out whenever you're curious.
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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
Josh Nastal
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