Mortgage Market Update

My Mortgage Company

Lisa Blake

Tuesday, November 3, 2026

Have you checked your home equity lately?

I'm writing this week about something many homeowners forget about: the wealth sitting in their property.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Equity & Access

Your home equity can open new doors

If you've been paying your mortgage for a few years, you've likely built equity—the difference between what your home is worth and what you owe. That equity isn't just a number on paper. It can become real money when you need it, whether for home repairs, education, debt consolidation, or other goals. There are a few ways to tap into it: a cash-out refinance, a home equity loan, or a HELOC. Each works differently, and the right choice depends on your situation, timeline, and what you're trying to accomplish. The earlier you explore your options, the better you can plan.

If you'd like to know what equity you might have available and how you could use it, let's talk.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Lisa Blake

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