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Mortgage Market Update
Team Dayton
Team Dayton
Tuesday, November 3, 2026
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How much equity have you built up? |
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One of the best parts of owning a home is watching your own money replace the bank's. Let me show you what that means for your options.
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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
What your home equity can do for you right now
If you've been in your home for a few years, you've likely built up equity—the difference between what your home is worth and what you owe. That equity can be a real financial tool. Some homeowners tap into it to fund home improvements, pay off higher-interest debt, or cover major expenses. Others leave it alone and focus on paying down their mortgage. There's no one right answer, but understanding what options exist and how they work is important. The choices you make with your equity affect your monthly payment, your loan term, and your long-term financial picture. If you're curious whether your equity could work harder for you, or you just want to see what you've actually built up, I'd love to talk through your situation with no pressure. Let's review your home equity and explore what might make sense for you.
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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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