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Mortgage Market Update
My Mortgage Company
Sean Price — Sean Price Lending Group
Saturday, October 31, 2026
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Your home's equity and what it means |
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Hi there,
I wanted to touch on a topic that often goes unnoticed until you really need it—the equity you're building in your home.
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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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Equity & Access
What your home's equity can do for you
As you pay down your mortgage, you're building equity—the difference between what your home is worth and what you owe on it. That equity can be a real financial tool. Some borrowers use it to fund home improvements, consolidate debt, or cover a major expense by tapping into a home equity line or loan. Others leave it alone and let it grow. The key is understanding your options so you can make a choice that fits your situation. If you're curious whether your equity could work for you, I'm happy to walk through what's available and how it might affect your overall picture. Let's talk about whether a home equity option makes sense 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
Sean Price — Sean Price Lending Group
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