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Mortgage Market Update
Brandt Myers
Brandt Myers
Tuesday, November 3, 2026
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You've probably built more home equity than you think |
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Hi there—one of the biggest advantages of homeownership is how your home builds wealth over time. This week I want to show you what that really means.
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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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Home Equity
Your home is building wealth—here's how to use it
Every mortgage payment you make builds equity in your home. That's money that belongs to you, and depending on your situation, you may be able to tap into it. Whether you're facing a major expense, funding home improvements, or consolidating debt, a home equity loan or line of credit can be a smart way to leverage the asset you're already paying for. The key is understanding your options and whether tapping your equity makes sense for your goals right now. I'm here to walk you through how much you might have available and what borrowing against it would look like. It's worth a conversation. Let's talk about what your equity could do 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 Brandt Myers team any time and we'll walk you through your options. |
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