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Mortgage Market Update
Brian Thompson
Brian Thompson
Tuesday, November 3, 2026
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Do you know how much equity you have? |
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There's a good chance your home is worth more than you owe on it—and that difference is yours to work with. Here's why that matters.
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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 & Borrowing
The equity in your home is more useful than you think
If you've been paying your mortgage for a while, or if your home has appreciated, you likely have equity built up. Many homeowners don't realize this equity can be accessed to cover major expenses—without selling. Whether it's home repairs, education, or consolidating higher-interest debt, tapping into your home's equity through a loan or line of credit can be a smart strategy. The terms and options available depend on how much equity you have and your overall financial picture. I'd be happy to walk through what your options might look like and whether it makes sense for 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 Brian Thompson team any time and we'll walk you through your options. |
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