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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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Most homeowners don't realize the financial tool they're building with each monthly payment. Let me walk you through how it works and what it might mean for 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 & Refinancing
The equity you've built might unlock new options
If you've owned your home for a few years, you're likely sitting on more equity than you realize. Every payment you make builds it—and that equity can work for you in several ways. You might refinance into better terms, tap it for home improvements, or consolidate higher-interest debt. The key is understanding what you actually have to work with. A conversation with me takes just a few minutes and can show you whether your equity opens a door that makes sense for your situation right now. Curious what your equity position looks like? Let's talk through your options.
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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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