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Mortgage Market Update
Rita Rehana
Rita Rehana
Tuesday, November 3, 2026
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Do you know how much equity you have? |
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Hi there—I'm thinking a lot about homeowners who've built real value in their homes but haven't thought much about how to use it. Here's why that matters.
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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's value is working for you
If you've owned your home for a while, or bought when prices were lower, you likely have equity built up. That's real financial leverage—money you can access when you need it, whether for home repairs, education, debt consolidation, or other major expenses. A lot of homeowners don't realize how much they have available, or they're unsure how to tap it safely. The good news is there are straightforward ways to borrow against your equity without refinancing your entire mortgage. I'd love to walk you through what might make sense for your situation. Let's talk about whether accessing your equity could help 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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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 Rita Rehana team any time and we'll walk you through your options. |
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