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Mortgage Market Update
My Mortgage Company
Janice M Williams
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 talk about something a lot of homeowners overlook—the value they've already built.
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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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Home Equity
Your home's rising value might be working for you
If you've owned your home for a few years, or if your neighborhood has seen value go up, you likely have equity built in. That's the difference between what your home is worth and what you still owe on it. Many homeowners don't realize this asset can be tapped for major expenses—renovations, education, debt payoff, or other life goals. Depending on how much equity you have and your situation, you might have options like a home equity line of credit or a cash-out refinance. The right choice depends on your timeline, how much you need, and your comfort level with borrowing. I'd love to help you understand what equity you have and whether it makes sense to use it. Let's talk about whether your home's equity can 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
Janice M Williams
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