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Mortgage Market Update
My Mortgage Company
Matthew Young CRM
Tuesday, November 3, 2026
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What's your home's equity worth right now? |
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This week I'm thinking about something a lot of homeowners overlook: how much equity they've actually built. It's worth knowing.
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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
Your home equity is probably worth more than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe on it. Over time, especially if you've owned your home for a few years, that number can grow faster than you realize. Knowing your equity matters because it opens doors: refinancing options, home equity lines of credit, or the ability to tap into that money if life happens. The tricky part is that many homeowners don't have a clear picture of their current equity, so they miss opportunities that could help them. If you haven't looked at your home's value recently or thought about what equity you've built up, it might be worth a conversation. I can help you understand where you stand and what options make sense for your situation. Let's talk about your equity and what you might do with it.
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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
Matthew Young CRM
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