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Mortgage Market Update
Harris Nightingale
Harris Nightingale
Tuesday, November 3, 2026
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Your home equity: more than just a number |
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I get questions all the time about what homeowners can do with the equity they've built. This week, I want to explain why it matters and how to think about using it wisely.
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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 & Borrowing
What your home equity can do for you
If you've been paying your mortgage for a while, you've likely built up equity—the difference between what your home is worth and what you owe. That equity isn't just a number on paper; it's a real financial asset you can access when you need it. Whether you're facing an unexpected expense, planning a renovation, or consolidating debt, a home equity line of credit or cash-out refinance can put that equity to work. The interest rates on these products are often better than credit cards or personal loans, making them a smart tool for many homeowners. If you're curious whether tapping your equity makes sense for your situation, I'd be glad to walk you through how it works and what options might be available to you. Let's talk about whether accessing your equity could help with your goals 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 Harris Nightingale team any time and we'll walk you through your options. |
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