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Mortgage Market Update
Brenda Rodriguez
Brenda Merecka Rodriguez
Tuesday, November 3, 2026
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Do you know how much home equity you have? |
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Here's something a lot of homeowners miss: you're probably building wealth in your home without realizing it. Let me explain how, and why it matters 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 Check
You might have more home 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've built equity without doing anything. Equity is the difference between what your home is worth today and what you still owe on your mortgage. It matters because it gives you options—refinancing, a home equity line of credit, or simply peace of mind knowing you own more of your home than you did before. The tricky part is that many people don't realize how much equity they actually have. If you haven't checked in a while, it might be worth a conversation. I'm happy to give you a quick assessment and walk through what your options might look like. Reach out anytime—I can help you figure out where you stand.
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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 Brenda Rodriguez team any time and we'll walk you through your options. |
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