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Mortgage Market Update
Harris Nightingale
Harris Nightingale
Tuesday, November 3, 2026
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What can you do with your home equity? |
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One of the best parts of homeownership is building equity over time. This week, I want to explain what that means and how it might help 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 & Access
What your home equity can do for you
If you've owned your home for a while, you've likely built equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. Depending on your situation, it can be a real tool. Some borrowers use it to access funds for repairs, education, or consolidating debt. Others use it to improve their loan terms. The key is understanding what options make sense for your goals and your finances. If you're curious whether your equity could work for you, I'm happy to walk through what's realistic given your specific position. Reach out anytime—no obligation—and we can talk through whether tapping your equity makes sense 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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