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Mortgage Market Update
Lester Marcano
Lester Marcano
Tuesday, November 3, 2026
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How much equity have you built? |
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One of the questions I hear less often than I should is, "How much equity do I actually have?" It's a straightforward question with real answers — and knowing yours can open doors.
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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
Your home's equity is working for you
If you've owned your home for a few years and made regular payments, there's a good chance you've built up equity — the difference between what your home is worth and what you owe on it. That equity is real money sitting in your property. Some borrowers use it to fund home improvements, pay off other debts, or handle unexpected expenses. Understanding how much equity you have and what options are available to tap into it is smart financial planning. Whether you're curious about what you've built or thinking about a future project, it's worth knowing your number and exploring what makes sense for your situation. Let's talk about your equity and what your options might look like.
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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 Lester Marcano team any time and we'll walk you through your options. |
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