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Mortgage Market Update
Kaelan Cheatham
Kaelan Cheatham
Tuesday, November 3, 2026
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How much equity have you built so far? |
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One of the best parts of owning a home often goes unnoticed month to month. I want to make sure you're thinking about it the right way.
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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 Building
Your home is working for you every month
A lot of people focus on their monthly payment and lose sight of what's actually happening underneath: with each payment you make, you're building ownership stake in your home. That's equity, and it's one of the most powerful wealth-building tools available to homeowners. The more you understand how your loan structure affects how fast equity builds, the better decisions you can make about your financial future. Whether you're early in your mortgage or thinking about what comes next, knowing where you stand with equity opens up real options—from home improvements to accessing funds down the road. If you've never taken a close look at how much equity you've built, or if you're curious about how different mortgage choices would change that trajectory, I'd love to walk through it with you. Let's talk about your equity position and what it means 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 Kaelan Cheatham team any time and we'll walk you through your options. |
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