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Mortgage Market Update
My Mortgage Company
Lawson Mortgage Group
Tuesday, November 3, 2026
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What's your home actually worth to you now? |
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Hi there. I've been thinking about how much has probably changed since you bought or last refinanced.
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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
The equity question worth asking
If you've owned your home for a few years, you're likely sitting on more equity than you realize. Every payment chips away at what you owe, and if your home's value has moved, that gap widens even more. The question I hear less often than I should is: what can you do with it? Some people use equity to consolidate debt, fund home improvements, or cover major life expenses—all while potentially keeping a favorable rate locked in. Others leave it untouched, and that's fine too. But it's worth knowing what's actually available to you. The math might surprise you, and even if you decide not to move forward, you'll have clarity. Let's talk about what your equity position looks like and whether it makes 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
Lawson Mortgage Group
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