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Mortgage Market Update
Sandy McAlpine
Sandy McAlpine
Wednesday, November 4, 2026
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How much wealth are you building? |
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Hi there, this week I want to focus on something powerful that many homeowners overlook: the equity sitting in their home right now.
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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 Basics
Your home is building wealth every month
If you've owned your home for a few years, you likely have more equity than you realize. Equity is the difference between what your home is worth and what you still owe on your mortgage—and it grows two ways: as you pay down your loan, and as your home's value appreciates over time. That equity can become real money when you need it. Many homeowners tap into their equity through refinancing, a home equity line of credit, or a cash-out loan to fund renovations, education, or other goals. The sooner you understand how much equity you have and what options exist, the better you can plan your financial moves. I'd love to help you get a clear picture of your situation. Let's talk about what your home equity could do for you.
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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 Sandy McAlpine team any time and we'll walk you through your options. |
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