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Mortgage Market Update
Team Dayton
Team Dayton
Tuesday, November 3, 2026
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Have you checked your home equity lately? |
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Hey there. This week I want to circle back to a topic that affects a lot of homeowners but doesn't always get the attention it deserves.
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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 & Access
You might have built more equity than you realize
If you've owned your home for a few years, there's a good chance your property is worth more than when you bought it. That growing equity—the difference between what your home is worth and what you still owe—can open doors you didn't have before. Some borrowers tap into it for home repairs, education, or major life expenses. Others use it to refinance into better loan terms. The first step is simply understanding what you have. We can help you figure that out with no pressure or obligation. If you'd like to know where you stand, I'm here to walk you through it. Let's talk about your home's current value and what options might make sense for your situation.
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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 Team Dayton team any time and we'll walk you through your options. |
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(253) 532-5626
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