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Mortgage Market Update
Eric Painter
Eric Painter
Tuesday, November 3, 2026
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Do you know how much equity you have? |
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Home equity is one of the most overlooked financial tools homeowners have. Let me break down 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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Home Equity
What your home's value means for your wallet
If you've owned your home for a few years, you've likely built up equity—the difference between what your home is worth and what you still owe on your mortgage. That equity is real money, and it can work for you in several ways: it can lower your monthly payment through a refinance, become a line of credit for expenses or improvements, or simply keep building as you pay down your loan. The key is understanding how much equity you have and what makes sense for your situation. I'd be happy to walk through your options—no pressure, just clarity on what's actually available to you. Let's talk about your home's value and what it could mean 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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