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Mortgage Market Update
Paige Lott
Paige Lott
Tuesday, November 3, 2026
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How much equity do you actually have? |
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Hi there. This week I want to talk about something that's quietly working in your favor every single month.
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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 mortgage is doing more than you think
Every payment you make builds equity in your home—that's the difference between what your house is worth and what you owe on it. Over time, this becomes real wealth. But many homeowners don't realize how much equity they've accumulated, or what they can do with it. Whether you're thinking about a renovation, covering an unexpected expense, or just curious about your financial position, knowing your equity matters. It can open doors you didn't know existed. If you haven't checked your home's value or reviewed your mortgage progress lately, now is a good time. I'd love to walk you through where you stand. Reach out and let's talk about your equity 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 Paige Lott team any time and we'll walk you through your options. |
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