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Mortgage Market Update
My Mortgage Company
Atiyah
Saturday, October 31, 2026
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You're building something here |
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One of the best parts of owning a home is that your payments work for you. Over time, you accumulate real wealth in the form of home equity—and it's worth understanding how to use it.
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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 equity can do for you
As you pay down your mortgage, you're building something real—equity in your home. Over time, that equity becomes a financial tool you can access if you need it. Whether you're facing unexpected expenses, planning a home improvement, or thinking about your long-term goals, understanding how much equity you have and what options exist is worth knowing. The amount you've built depends on how long you've owned your home and how your loan balance has moved. I can show you exactly where you stand and walk through what might make sense for your situation—no pressure, just clarity. Let's talk about what your equity means 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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