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Mortgage Market Update
My Mortgage Company
Kiernan O'Brien
Tuesday, November 3, 2026
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Do you know your home's equity number? |
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Hi there. I wanted to touch base about something that often goes unnoticed until someone asks: how much equity you've built up in your home, and what you can do with it.
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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 might have more borrowing power than you think
As you pay down your mortgage and your home holds or gains value, you build equity. That equity can become a tool. If you've been a homeowner for a while, you may now have enough equity to refinance into better terms, pull cash for home improvements or other needs, or explore a home equity line of credit. The catch: most lenders want to see you've built a meaningful amount. The upside: tapping into equity you've already earned is often cheaper than other borrowing options. Worth exploring if you're thinking about a project, consolidating debt, or just want to know what's possible. I'd be happy to run the numbers and show you what your options actually are. Let's talk about what your equity can do for you—reach out whenever you're ready.
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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
Kiernan O'Brien
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