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Mortgage Market Update
My Mortgage Company
Chad Pennington — Lindsey Pennington
Saturday, October 31, 2026
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What's your home actually worth to you? |
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Here's something homeowners often overlook: your home isn't just a place to live. Over time, it becomes a financial asset. Today I want to walk you through why that 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 & Access
What your home's value means for your money
As a homeowner, you've probably watched your home's value change over time. That matters more than you might think. When your home appreciates, you build equity—the difference between what you owe and what it's worth. That equity can open doors: it may qualify you for a loan to fund improvements, pay off debt, or handle a major expense. The catch is knowing what you actually have to work with. A realistic home valuation helps you understand your options without guessing. If you're curious about your position, I can help you figure out what equity you're sitting on and whether it makes sense to tap into it right now. Let's talk about your home's equity and what options might work 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
Chad Pennington — Lindsey Pennington
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