Mortgage Market Update

Craig Heitz

Tuesday, November 3, 2026

Do you know how much equity you have?

Home ownership builds wealth over time in ways that aren't always obvious. Understanding your equity is a big part of that picture.

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 & Access

How home equity can work for you

As you pay down your mortgage and your home's value can change, you build equity—that's the difference between what your home is worth and what you still owe. Many homeowners forget this is a real financial asset sitting right there.

That equity can be tapped for big expenses, home improvements, or even debt consolidation through a home equity loan or line of credit. It's not free money, and borrowing against your home does carry risk, but understanding what you have available is smart planning. The sooner you know your position, the sooner you can make intentional decisions about your money. Let's talk about what your equity picture looks like and whether it makes sense to explore your options.

Reach out anytime you'd like to go over your home's current equity and what you might do with it.

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 Craig Heitz team any time and we'll walk you through your options.

Your Mortgage Advisor

Craig Heitz

cheitz@power-lending.com

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