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Mortgage Market Update
My Mortgage Company
Lenore Myers
Tuesday, November 3, 2026
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Do you know how much equity you have? |
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One of the smartest things you can do as a homeowner is stay aware of your financial position. This week, let's talk about something that often goes overlooked.
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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 & Access
Your home's equity—and what you can actually do with it
If you've owned your home for a while, you've likely built equity. That matters more than you might think. Equity is real wealth sitting in your property, and depending on how much you have, it can open doors: a cash-out refinance to pay for home repairs or consolidate debt, a home equity line of credit for flexibility, or simply the cushion you need if life changes course. The catch is knowing what you have and understanding which option makes sense for your situation. Some people sit on equity without realizing it could work for them. Others rush into the wrong tool for their goal. That's where a conversation helps. We can walk through what your equity position actually is and whether tapping into it makes financial sense right now. If you'd like to talk through your equity and options, 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
Lenore Myers
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