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Mortgage Market Update
Guillermo Ley
Guillermo Ley
Tuesday, November 3, 2026
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How much equity do you have now? |
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A lot changes in a home over time—market values shift, you pay down your loan, and your financial picture evolves. Today I want to talk about something many homeowners overlook: the equity sitting in their property.
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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 Building
Your home equity is probably worth more than you think
Every payment you make builds equity—the difference between what your home is worth and what you owe. Most homeowners don't realize how much equity they've accumulated, especially if they've been in their home for a few years. Rising home values in many markets mean your equity may have grown even faster than your monthly payments alone would suggest. Knowing your equity matters because it opens doors: you might qualify for a cash-out refinance, a home equity line of credit, or other options if life circumstances change. If you're curious where you stand, I'd be happy to run the numbers and show you what your equity position looks like right now. Let's take a quick look at your home's equity and what options might make sense 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 Guillermo Ley team any time and we'll walk you through your options. |
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