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Mortgage Market Update
Christopher Austin
Christopher Robert Austin
Tuesday, November 3, 2026
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What's your home equity worth to you? |
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Hi there,
If you've owned your home for a while, you've probably been building wealth without thinking much about it. Here's what you need to know.
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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 your home equity can do for you
If you've been paying your mortgage for a while, you're sitting on something valuable: home equity. That's the difference between what your home is worth and what you still owe. Equity opens doors. You can borrow against it for home improvements, education, or other big expenses. You can tap it to lower your rate through a refinance. You can even use it to help a family member buy their first home. The catch is knowing what you have and understanding your options. That's where a conversation with me comes in. I can help you figure out how much equity you've built and whether it makes sense to use it right now. Let's talk about your equity and what's possible.
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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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