Mortgage Market Update

Bowen Belmer

Tuesday, November 3, 2026

How much equity do you have right now?

Hi there—this week I want to talk about something that's easy to overlook but incredibly powerful for homeowners. Your home is quietly building your wealth, and you should know the details.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Equity Building

Your home is working for you—here's how

Every mortgage payment you make builds equity in your home. That's real wealth accumulating over time, separate from any change in your home's market value. The sooner you understand how much equity you have, the more options open up to you—whether that's a cash-out refinance to fund renovations, a home equity line of credit for emergencies, or simply knowing your net worth is growing.

If you've been in your home for a few years, you might be surprised at how much equity you've built. I encourage homeowners to check in on this at least once a year. It's a good reminder that your mortgage isn't just an expense—it's an investment in your future. Ready to find out where you stand?

Let me help you get a clear picture of your home's equity and what you can do with it.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Bowen Belmer team any time and we'll walk you through your options.

Your Mortgage Advisor

Bowen Belmer

bowen@barrettfinancial.com

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