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Mortgage Market Update
Craig Heitz
Craig Heitz
Tuesday, November 3, 2026
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Do you know what your home's equity is worth? |
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Equity is one of those mortgage terms that sounds fancy but really just means money you own. Here's how it works and why it might matter 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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Equity & Options
What your home's equity can do for you
If you've been in your home for a while, or if your neighborhood has appreciated, there's a good chance you've built up equity—the difference between what your home is worth and what you still owe. That equity isn't just abstract. It can be a real financial tool. Some people use it to fund renovations, cover big expenses, or consolidate debt at a better rate. Others leave it alone and let it grow. The right choice depends on your situation, your goals, and what makes sense for your monthly budget. If you're curious about what options might be available to you, I'd love to walk through the numbers and talk through what could work. Let's talk about what your equity means for your money moves.
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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 Craig Heitz team any time and we'll walk you through your options. |
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