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Mortgage Market Update
Rita Rehana
Rita Rehana
Tuesday, November 3, 2026
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Do you know how much home equity you have? |
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I work with a lot of homeowners who are surprised when they learn how much their home has appreciated. Today I want to walk you through 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 may be worth more than you think
If you've owned your home for a few years, or bought before rates climbed, there's a good chance you've built equity—sometimes more than you realize. Equity is the difference between what your home is worth and what you still owe on your mortgage. It matters because it opens doors: you can tap it to cover major expenses, consolidate debt, or fund renovations that add value back to your home. The first step is understanding how much equity you actually have. A quick conversation can help you see what's possible and whether it makes sense for your situation right now. Let's talk about what equity you might have available and what it could do for you.
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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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