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Mortgage Market Update
Valerie Rush
Valerie Rush
Wednesday, November 4, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to talk about a resource many homeowners have but don't always think about.
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National Mortgage Rates · November 3, 2026
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Conventional 30-Year
7.17%
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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 Awareness
What your home equity can do for you
If you've been a homeowner for a while, you've probably built up equity—the difference between what your home is worth and what you still owe on the mortgage. That equity is real money, and it opens up real options. You can tap it for a home improvement project, pay off higher-interest debt, or handle an unexpected expense. The most common ways are a cash-out refinance or a home equity line of credit. Both let you borrow against what you've already paid down. The key is knowing what you have available and whether accessing it makes sense for your situation right now. If you're curious about your options, I'd be glad to walk through the numbers with you. Let's talk about whether tapping your equity makes sense for your goals.
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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 Valerie Rush team any time and we'll walk you through your options. |
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