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Mortgage Market Update
Christopher Austin
Christopher Robert Austin
Tuesday, November 3, 2026
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How today's rates affect your home equity |
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Hi there. I want to shed some light on something a lot of homeowners overlook when rates move—and it might apply to you.
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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
What happens to your equity when rates change
A lot of homeowners think rising or falling rates only affect new borrowers. But here's the thing: rates moving can actually shift how fast your equity grows, even though you're locked into your current rate. When rates climb, your home's value can soften—which means your equity grows slower. When rates fall, the opposite often happens. That's one reason some owners decide to refinance when the math works: you're not just lowering a payment, you're protecting the equity you've worked to build. It's worth understanding how the broader market affects your personal financial picture. Let me know if you'd like to talk through what's happening with your equity right now.
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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 Christopher Austin team any time and we'll walk you through your options. |
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