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Mortgage Market Update
Megan Maruna
Barrett Financial Group
Tuesday, November 3, 2026
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Home equity—here's what you can do with it |
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Hi there. One of the best financial assets many homeowners have is sitting right in their homes, and they don't always realize it.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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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
If you've been paying your mortgage for a few years, you likely have equity built up—that's the difference between what your home is worth and what you still owe. That equity isn't just a number on paper; it's a real financial tool you can tap into when you need it. Some borrowers use it to fund home improvements, pay off other debts, or handle unexpected expenses. The key is understanding your options—whether a cash-out refinance, a home equity line of credit, or another approach makes sense for your situation. The right move depends on your goals, timeline, and current rates. I'd be happy to walk through what your equity means and what's available to you. Reach out and let's talk about whether tapping into your home equity makes sense right now.
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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 Megan Maruna team any time and we'll walk you through your options. |
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