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Mortgage Market Update
My Mortgage Company
Andrea WIlson — Andrea WIlson
Saturday, October 31, 2026
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Do you know how much equity you have? |
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One of the smartest parts of homeownership is that every payment builds your stake in the property. I want to walk you through what that means in practical terms.
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National Mortgage Rates · October 29, 2026
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Conventional 30-Year
7.15%
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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
Your home is building wealth. Here's how to use it.
If you've been in your home for a few years, you likely have equity—the difference between what your home is worth and what you owe on it. That equity isn't just sitting there; it's real financial cushion you can tap into when you need it. Whether you're facing a big expense, consolidating debt, or funding a home project, a home equity loan or line of credit lets you borrow against what you've already built. The rates are often lower than credit cards or personal loans, and the interest may be tax-deductible. The key is understanding how much equity you actually have and which borrowing option makes sense for your situation. If you'd like to explore what equity you might have available, let's talk through your options.
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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
Andrea WIlson — Andrea WIlson
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