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Mortgage Market Update
Cat Barnett
Cat Barnett
Tuesday, November 3, 2026
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How much equity do you have now? |
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Building wealth through homeownership isn't magic—it's a steady process that starts the day you close. Let me walk you through what's actually happening with your mortgage payments.
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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 Strategy
Building equity faster than you think
Every mortgage payment you make builds equity in your home—the difference between what your home is worth and what you still owe. It's one of the most powerful wealth-building tools available to everyday homeowners, and most people don't realize how quickly it adds up. The sooner you start, and the more consistently you pay, the more equity you're building. If you've owned your home for a few years, you may have more equity than you realize. That equity can open doors down the road—whether you want to tap into it for a major expense, make improvements to your home, or refinance into better terms. The first step is understanding where you stand 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 Cat Barnett team any time and we'll walk you through your options. |
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(720) 300-6777 | www.LoanFIT.us
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