Mortgage Market Update

Sabrina Richardson

Tuesday, November 3, 2026

Do you know how much equity you've built?

Hi there. I spend a lot of time talking with homeowners who are surprised to learn how much their home has appreciated since they bought.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Equity Check

Your home may be worth more than you think

If you bought a few years ago or made improvements to your home, there's a good chance you've built equity without even trying. Equity is the difference between what your home is worth today and what you still owe on your mortgage—and it's one of your most valuable financial tools.

Why does this matter? Equity can be tapped for major expenses, used to refinance into better loan terms, or rolled into your next home purchase. The tricky part is knowing what your home is actually worth. A quick conversation with me can help you understand where you stand, whether refinancing makes sense, or if you're sitting on an opportunity you didn't realize. There's no cost to explore it.

Let's talk about what your equity could mean for your financial goals.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Sabrina Richardson team any time and we'll walk you through your options.

Your Mortgage Advisor

Sabrina Richardson

sabrina@barrettfinancial.com

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