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Mortgage Market Update
Joshua Switzer
Joshua Switzer
Tuesday, November 3, 2026
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What you don't know about your home's equity |
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Hi there. I wanted to touch base this week about something that works quietly in the background of homeownership but can matter quite a bit when you need it.
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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 Building
Your home is working for you—even when you're not
Every mortgage payment you make builds equity in your home. It's one of the quietest wealth builders out there, and most homeowners don't think about it until they need it. As you pay down your loan balance and your home's value changes, that equity grows. It can give you options down the road—whether that's a cash-out refinance for home improvements, a safety net if life throws you a curveball, or just the knowledge that you're building something real. The longer you own, the more powerful this becomes. If you're curious about how much equity you might have right now, I'd love to take a quick look at your situation and walk you through what that means for your options. Reach out anytime—I can give you a clear picture of 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 Joshua Switzer team any time and we'll walk you through your options. |
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