Mortgage Market Update

Eric Maza

Tuesday, November 3, 2026

How much equity are you sitting on?

Every payment counts. Here's why understanding your equity matters—and what you can do with it.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Equity Building

Your home is working for you every month

Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. It's one of the most powerful wealth-building tools available to homeowners, and it happens automatically while you live your life. The longer you own, the more equity you accumulate, which opens doors down the road: home improvements, emergencies, or even a future purchase. If you've been a homeowner for a while, you might be surprised how much equity you've already built. Understanding that number helps you make smarter decisions about your financial future—whether that's staying put, refinancing, or planning what comes next.

Want to know how much equity you've built? I can help you figure that out.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Eric Maza team any time and we'll walk you through your options.

Your Mortgage Advisor

Eric Maza

emaza@canopymortgage.com

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