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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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Home equity builds quietly—and most people don't realize when it's time to use it. This week I want to help you figure out if you have untapped options.
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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 & Refinancing
Your home's value might unlock new options
If you've been in your home for a while, you may have built up equity without realizing it. That equity can be a real financial tool—whether you're thinking about refinancing, making home improvements, or handling an unexpected expense. The tricky part is knowing what you actually have to work with. A simple conversation about your home's current value and what you owe can reveal options you didn't know existed. It's worth checking in, especially if your neighborhood has changed or if rates have moved significantly since you bought. I'd be happy to walk through where you stand and what might make sense for your situation. Reach out if you'd like to explore what your equity means 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 Troy Holm team any time and we'll walk you through your options. |
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