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Mortgage Market Update
Jarred Kuiper
Jarred Kuiper
Tuesday, November 3, 2026
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What can your home equity do for you? |
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Hello, I hope you're doing well. This week I want to touch on something many of you have been building quietly over time: home equity, and how it can work for you when you need 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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Home Equity
When does it make sense to tap your equity?
If you've been in your home for a while, you likely have equity built up—the difference between what your home is worth and what you still owe. That equity can be a real financial resource, but using it is a decision worth thinking through carefully. A home equity loan or line of credit can work well for major expenses like renovation or consolidating debt, but it's worth considering whether borrowing against your home is the right move for your specific goals. The answer depends on your situation: what you need the money for, your comfort level with debt, and your long-term plans for the home. I'd love to walk through your options with you—no pressure, just a conversation about what might serve you best. Let's talk about your equity and what it 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 Jarred Kuiper team any time and we'll walk you through your options. |
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