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Mortgage Market Update
Thomas Harris
Thomas Harris
Tuesday, November 3, 2026
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What you can do with your home's equity |
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Hi there. I want to share something I hear about a lot this time of year—people realizing they have more financial flexibility than they thought.
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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 & Cash Out
What your home equity can actually do for you
If you've owned your home for a few years, you've probably built some equity—the difference between what your home is worth and what you still owe. A lot of people don't realize how useful that equity can be. Whether you're thinking about a kitchen remodel, paying off debt, or funding something important, a cash-out refinance or home equity line of credit might make sense. The key is understanding what's available to you and whether the numbers work for your situation. I can walk you through how much equity you might have access to and what your real options look like—no obligation, just honest answers. Let me know if you'd like to talk through 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 Thomas Harris team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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Thomas Harris
Thomas Harris
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