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Mortgage Market Update
Megan Maruna
Barrett Financial Group
Tuesday, November 3, 2026
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What's your home worth right now? |
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Hi there—I wanted to touch base this week about something a lot of homeowners forget to think about. Your home has likely become one of your biggest assets, and there are real options available if you want to use that to your advantage.
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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
You may have built more equity than you think
If you've owned your home for a few years, or if your home's value has gone up, there's a good chance you have equity sitting there. Equity is the difference between what your home is worth and what you still owe on your mortgage. It's real wealth, and depending on how much you have, you might be able to tap into it for a major expense, a home improvement, or even a life change. The catch: you need to know what you actually have before you can use it. A home value check—which can be simple and free—is the first step. Once you know your number, we can talk about what options might make sense for your situation. Ready to see where you stand? Give me a call or send me a message if you'd like to explore what your equity could do 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 Megan Maruna team any time and we'll walk you through your options. |
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