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Mortgage Market Update
My Mortgage Company
Ron Succarotte — Ronald Angelo Succarotte
Saturday, October 31, 2026
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Do you know how much equity you have? |
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Hi there—one of the best things about homeownership is that you're building real wealth with every payment. This week, I want to talk about equity 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
Your home equity might be worth more than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe on the loan. Over time, as you pay down your balance and your home appreciates, that equity grows into real financial cushion. Some of you may have built up significant equity without realizing it, which opens doors: you could tap into it for major expenses, consolidate debt, or make home improvements that add even more value. Others might be curious about where they stand. Either way, understanding your equity position is smart financial planning. If you'd like to explore what your equity means for your situation, I'm here to walk through the numbers with you. Let's take a look at where your home equity stands—reach out anytime.
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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
Ron Succarotte — Ronald Angelo Succarotte
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