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Mortgage Market Update
My Mortgage Company
Ron Succarotte — Ronald Angelo Succarotte
Tuesday, November 3, 2026
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How much equity are you sitting on? |
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Hello! I hope you're doing well. This week I want to talk about something that's quietly working in your favor every single month.
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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
The money you're already making in your home
Every mortgage payment you make builds equity—that's the portion of your home's value you actually own. As you pay down your loan, that number grows. It's one of the most powerful wealth-building tools available to homeowners, and it happens whether you think about it or not. The catch is that many people don't realize how much equity they've accumulated, or what they can do with it. Whether you're thinking about a major home project, consolidating debt, or just curious about your financial position, understanding your equity is the first step. If you've been in your home for a few years, the number might surprise you. Let's take a look at what your equity position is today and what options might make sense for your situation.
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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
Ron Succarotte — Ronald Angelo Succarotte
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