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Mortgage Market Update
My Mortgage Company
Kelly Rankin — Kelly Rankin
Saturday, October 31, 2026
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Have you checked your home equity lately? |
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Hello,
One of the best things about owning a home is that your equity grows over time—often without you thinking about 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 Building
Your home equity is working harder than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe. Over time, this becomes real money you can access if you need it. Beyond monthly payments, your home's value itself can grow, adding even more equity to your position. Understanding how much equity you have matters because it opens doors: refinancing options, home improvement loans, or flexibility down the road. If you've owned your home for a few years, you may have built up more than you realize. A quick conversation about your current situation can show you what options that equity creates for you. Let's talk about how much equity you've built and what it means for your next move.
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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
Kelly Rankin — Kelly Rankin
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