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Mortgage Market Update
My Mortgage Company
Jordan Caprio
Tuesday, November 3, 2026
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How much equity do you have now? |
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I work with a lot of homeowners who are surprised when they learn how much wealth they've built into their homes. Today I want to shed some light on why that number matters to your financial picture.
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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
Your home is quietly building wealth
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this becomes real financial leverage you can tap into when you need it. Some borrowers don't realize how much equity they've accumulated, especially if they've owned their home for a few years. Knowing your number matters because it opens doors: you might refinance into better terms, borrow against it for major expenses, or simply feel more secure knowing what you own. The best time to understand your equity position is now, before you need it in a pinch. If you'd like to talk through how much equity you may have built, I'm happy to take a quick look.
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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
Jordan Caprio
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