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Mortgage Market Update
Arturo Solis
Arturo Solis
Tuesday, November 3, 2026
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Your home's equity can work harder |
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I'm thinking this week about homeowners who've been paying their mortgage for years and aren't sure what to do with the equity they've built. Here's what you should know.
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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 & Cash
What your home equity can actually do for you
If you've been in your home for a few years, you likely have equity built up—the difference between what your house is worth and what you still owe. Many homeowners don't realize how useful that equity can be. Whether you're thinking about a home improvement project, paying off higher-interest debt, or funding a major life expense, a cash-out refinance or home equity line lets you tap that built-up value at favorable rates. It's not borrowed money; it's your own equity working for you. The key is understanding whether it makes sense for your situation—that depends on your goals, timeline, and what rates look like. I'd love to walk you through what options might fit your life right now. Let's talk about whether tapping your equity makes sense 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 Arturo Solis team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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Arturo Solis
Arturo Solis
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