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Mortgage Market Update
My Mortgage Company
Garrison Groeschke
Tuesday, November 3, 2026
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Do you know how much equity you have? |
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Hey there. This week I want to touch on something many homeowners overlook: the equity sitting in their home.
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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 equity might be worth more than you think
If you've owned your home for a while, you've likely built up equity—the difference between what your home is worth and what you still owe. That equity can become a real tool in your financial life. Some borrowers tap into it through a refinance or a home equity line to cover major expenses, consolidate debt, or invest in improvements that add value. The key is understanding what you have and whether accessing it makes sense for your situation. I'd be happy to walk you through your current equity position and discuss whether it might make sense to explore your options. There's no pressure or obligation—just a clearer picture of where you stand. Reach out if you'd like to talk through your home's equity and what it could mean for you.
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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
Garrison Groeschke
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