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Mortgage Market Update
My Mortgage Company
Darcy Highfill
Tuesday, November 3, 2026
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Your home equity, explained |
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One of the best parts of homeownership is building wealth over time. Today I want to show you what that means in practical terms.
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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 paying your mortgage for a while, you likely have equity built up in your home — the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. Depending on your situation, it can be a financial resource when you need it. Some borrowers tap into their equity to cover major expenses, make home improvements, or consolidate debt. Others leave it alone and let it grow. There's no one right answer, but it's worth understanding what options exist and whether any make sense for your goals. I'd be happy to walk through what your equity position looks like and what possibilities might be available to you. Let's talk about whether your home equity could 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
Darcy Highfill
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