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Mortgage Market Update
My Mortgage Company
Jesse Crawford
Saturday, October 31, 2026
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Do you know how much equity you have? |
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Hello,
One of the best parts of homeownership is that every payment moves you closer to owning your home outright. Let me explain how that works and why it matters.
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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 Building
What your home equity actually means for you
As you make mortgage payments, you're building equity—the difference between what your home is worth and what you owe. This matters more than you might think. Equity is real wealth sitting in your property, and depending on your situation, it can open doors: some people use it to fund home improvements, others tap it for major expenses, and some refinance into better loan terms. The more you understand your equity position, the better decisions you can make about your mortgage and your finances. If you're curious about how much equity you may have built, or how it could work for you, I'd love to walk you through the numbers. Let's take a look at your equity and 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
Jesse Crawford
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