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Mortgage Market Update
My Mortgage Company
Kevin Flannery
Tuesday, November 3, 2026
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How much equity have you built so far |
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Hi there—I want to make sure you're aware of something that's quietly working in your favor. Here's what you need to know.
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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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Home Equity
The equity sitting in your home right now
If you've been paying your mortgage for a while, you likely have more financial breathing room than you realize. As you pay down your loan balance and your home holds or gains value, you build equity—the difference between what your home is worth and what you owe. That equity can be a powerful tool: some borrowers use it to fund home improvements, consolidate debt, or cover unexpected expenses. The catch is knowing what you have and understanding which borrowing options make sense for your goals. A quick conversation about your home's value and your loan balance can show you what's actually available to you—and whether tapping into it makes financial sense right now. I'd be happy to walk you through your equity position and explore what options might work for 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
Kevin Flannery
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