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Mortgage Market Update
Paige Lott
Paige Lott
Tuesday, November 3, 2026
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What's your home equity worth to you? |
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Hi there—I hope you're doing well. This week I want to talk about something that quietly works in your favor as a homeowner.
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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
Your home equity might be worth more than you think
As a homeowner, you're building wealth every time you make a mortgage payment. That equity—the difference between what your home is worth and what you owe—can open doors you might not realize are there. Whether you're thinking about a major home project, dealing with unexpected expenses, or planning for the future, understanding what you have access to can change your options. I've worked with plenty of homeowners who were surprised to learn how much equity they'd built up. If you haven't thought about yours lately, it's worth a conversation. I can walk you through what you have and what it might mean for your situation. Reach out if you'd like to explore your equity and what options it creates 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 Paige Lott team any time and we'll walk you through your options. |
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