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Mortgage Market Update
My Mortgage Company
Mike McBride
Tuesday, November 3, 2026
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Your home equity might be worth more than you think |
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Home equity is one of the most underutilized financial tools homeowners have. Here's how to think about 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 & Access
What your home equity can do for you
If you've been in your home for a while, you likely have equity built up—the difference between what your home is worth and what you still owe. That equity isn't just numbers on paper. It can be a real financial tool when you need it. Whether you're facing a big expense, planning a home improvement, or consolidating debt, your equity gives you options. Some borrowers tap into it through a cash-out refinance or a home equity line of credit. The right move depends on your situation, your timeline, and the rate environment. If you're curious whether your equity could work harder for you, I'd love to walk through what's available and what makes sense for your goals. Let's talk about your equity and what options might be available to 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
Mike McBride
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