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Mortgage Market Update
My Mortgage Company
Celia White
Tuesday, November 3, 2026
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Do you know your home's equity number? |
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A lot happens between the day you close on a home and today. One of those things is building equity—and it's worth understanding what you have.
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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 & Options
You may have built more equity than you think
If you've owned your home for a few years and made regular payments, you're likely sitting on more equity than you realize. Equity is the difference between what your home is worth and what you still owe—and it's yours to use. Some homeowners tap into equity through a cash-out refinance to fund renovations, consolidate debt, or handle unexpected expenses. Others keep building it as a safety net. Understanding what you have available is the first step to deciding what makes sense for your situation. There's no pressure to do anything with it, but knowing the number helps you make better financial decisions. Let's talk about your equity and what options might work 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
Celia White
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