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Mortgage Market Update
Eric Painter
Eric Painter
Tuesday, November 3, 2026
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What your home equity could do for you |
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One of the smartest things about owning a home is that it builds value for you over time. If you've paid down your mortgage or your home has appreciated, you've got something to work with.
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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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Home Equity
Your home equity is working—or it could be
If you've been in your home a few years, you've likely built up equity. That's real value sitting in your property, but a lot of homeowners don't realize they can access it when they need to. Whether you're facing a major expense, want to invest in your home, or are just curious about your options, knowing what equity you have and how to use it can make a real difference. Some people tap into it through a refinance, others through a line of credit. The right move depends on your situation, your timeline, and what you're trying to accomplish. I'd like to walk you through what's actually possible for you. Let's talk about whether your equity could work better 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 Eric Painter team any time and we'll walk you through your options. |
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