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Mortgage Market Update
Maggie Wells
Maggie Wells
Wednesday, November 4, 2026
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What to do with the equity you've built |
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Hey everyone. This week I want to talk about something that grows quietly in the background for most homeowners: equity, and the smart ways you can put it to work.
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National Mortgage Rates · November 3, 2026
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Conventional 30-Year
7.17%
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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 Strategy
Your home equity is an asset—here's how to use it
If you've been in your home for a few years, 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 a number on paper; it can actually work for you. Some borrowers tap into their equity through a cash-out refinance or a home equity line when they need funds for major expenses, home improvements, or debt consolidation. Others simply let it grow as part of their long-term wealth building. The right move depends on your situation, your goals, and what makes sense for your monthly budget. If you're curious whether your equity could help you reach a specific goal—or if you just want to know where you stand—I'd love to walk through your options with you. Let's talk about what your equity might mean for your financial picture.
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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 Maggie Wells team any time and we'll walk you through your options. |
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