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Mortgage Market Update
My Mortgage Company
Julio C Quintana — Julio C Quintana
Saturday, October 31, 2026
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Have you checked your home equity lately? |
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One of the best parts of homeownership is watching your equity grow over time. Here's what you should know about tapping into it when you need to.
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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
You might have built more equity than you think
If you've been in your home for a while, or if your home's value has climbed, you may have built up equity—that's the difference between what your home is worth and what you still owe on your mortgage. That equity can be tapped for big expenses, home improvements, or other financial goals through a home equity loan or line of credit. The sooner you understand how much you have to work with, the sooner you can decide if it makes sense for you. Even if you're not ready to use it now, knowing your position is worth the conversation. I'd love to help you get a clear picture of where you stand. Let's talk about your home's equity and what options might be available to 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
Julio C Quintana — Julio C Quintana
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