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Tuesday, November 3, 2026 |
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Mortgage Market Update
What can you do with your home equity
Hi there,
If you've built equity in your home over time, you have more options than you might realize.
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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 & Flexibility
Your home equity can work for you
If you've owned your home for a while, you've likely built up equity—the difference between what your home is worth and what you owe. That equity isn't just a number on paper. Depending on your situation, you may be able to tap into it through a refinance or a home equity line of credit, giving you access to funds for repairs, education, or other goals. The key is understanding what makes sense for your finances and timeline. Rates, your loan balance, and your long-term plans all play a role in the decision. I'd love to walk you through your options and show you what borrowing against your equity might look like—no pressure, just information. Let's talk about whether tapping your equity makes sense for you right now.
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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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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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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 Melanie Hadley Lending Team team any time and we'll walk you through your options.
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(512) 799-8117
Melanie Hadley Lending Team · Unsubscribe
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