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Mortgage Market Update
Daniel Bellomy
Daniel Bellomy
Tuesday, November 3, 2026
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What your home's equity can do for you |
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One of the best parts of homeownership is watching your equity grow with every payment. I want to make sure you know how to use it wisely.
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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
If you've been paying your mortgage for a while, you've likely built up equity—the difference between what your home is worth and what you owe. That equity is real money, and it can be a powerful financial tool when you need it. Whether you're facing unexpected expenses, want to improve your home, or are thinking ahead, knowing what your equity can do for you matters. There are several ways to tap into it responsibly, and the right choice depends on your situation and goals. If you're curious about whether your equity could work for you right now, I'd love to walk through the options and help you understand what makes sense. Let's talk about your equity and what it could mean for your financial picture.
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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 Daniel Bellomy team any time and we'll walk you through your options. |
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