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Mortgage Market Update
Brandon Palmer
Brandon Palmer
Tuesday, November 3, 2026
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You might have more equity than you realize |
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Hi there. This week I want to circle back to something a lot of homeowners overlook—the wealth they're quietly building.
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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 built more equity than you think
If you've owned your home for a few years, or if your neighborhood has appreciated, there's a good chance you're sitting on more equity than your loan balance suggests. Equity is the difference between what your home is worth and what you still owe—and it can open doors. Some borrowers use it to fund home improvements, consolidate debt, or tap into cash when life happens. Others prefer to let it grow. The key is knowing what you have. If you're curious whether you've built meaningful equity, I can help you run a quick assessment. It might surprise you. Let's talk about what your equity 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 Brandon Palmer team any time and we'll walk you through your options. |
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