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Mortgage Market Update
Brandon Palmer
Brandon Palmer
Tuesday, November 3, 2026
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Have you checked your home's value lately? |
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Hi there. Markets shift, homes appreciate, and sometimes your financial picture changes without you realizing it. This week I want to talk about something that might be working in your favor right now.
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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
You might have more equity than you think
If you bought your home a few years ago or have been paying down your mortgage, there's a good chance your home is worth more than what you still owe on it. That difference is equity—and it can be useful when you need it. Equity can work for you in a few ways: it can lower your insurance costs, help you qualify for a better loan rate, or give you access to cash if a major expense comes up. The first step is simply understanding how much you have. I can help you figure that out and walk through your options, no obligation. Let me run a quick equity check 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 Brandon Palmer team any time and we'll walk you through your options. |
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