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Mortgage Market Update
Troy Holm
Troy Holm
Tuesday, November 3, 2026
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Do you know how much equity you have? |
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Hi there. I've been thinking about a topic that matters more to homeowners than most realize—and it often gets overlooked.
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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 Building
Your home equity is working harder than you think
Every mortgage payment you make builds equity—the difference between what your home is worth and what you still owe. Over time, this becomes real wealth. But equity isn't just something that sits there. You can tap into it for major expenses, home improvements, or consolidating debt, depending on your situation and what your lender offers. The sooner you understand how much equity you have and what you might do with it, the better decisions you can make about your financial future. If you're curious whether your equity could work for you right now, I'd be happy to walk through your options—no pressure, just clarity. Let's talk about what your equity means for your goals.
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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 Troy Holm team any time and we'll walk you through your options. |
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