Barrett Financial · November 3, 2026

How much of your home do you actually own

Mortgage Market Update

Nicholas do Carmo

Barrett Financial

Tuesday, November 3, 2026

How much of your home do you actually own

Hi there—I wanted to touch base this week on something that often flies under the radar for homeowners.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

Rate trend

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.


Equity Building

Your home is working for you every month

Every mortgage payment you make builds equity—that's the portion of your home's value you actually own. It's one of the most underrated benefits of homeownership. While rent goes to a landlord, your payment goes toward ownership. Over time, this compounds. Plus, as your home's value shifts, your equity can grow even faster. If you've owned your home for a while, you might have more equity available than you realize. Some borrowers tap into it for home improvements, debt consolidation, or other goals—but first, it helps to know what you're working with. I can pull a quick equity snapshot for you, no pressure. Just want to make sure you're aware of the options available.

Curious about your equity position? Reach out and we can talk through where you stand.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.

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.

2.

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.

3.

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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Nicholas do Carmo team any time and we'll walk you through your options.

Your Mortgage Advisor

N

Nicholas do Carmo

Barrett Financial

nick@barrettfinancial.com

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