Mortgage Market Update

Taylor Lacy

Tuesday, November 3, 2026

Your home equity might be bigger than you think

Hi there—I wanted to touch base about something a lot of homeowners overlook. If you've built up some equity in your home, there are some smart ways to put it to work.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Home Equity

What your home equity is really worth

If you've owned your home for a few years, you likely have equity built up—the difference between what your home is worth and what you still owe on your mortgage. That equity isn't just a number on paper. It can be used to fund major expenses, pay off debt, or reinvest in your home itself through a cash-out refinance or a home equity line of credit.

Many homeowners don't realize how much equity they've accumulated, or they're unsure whether tapping into it makes sense for their situation. The good news: we can pull a quick estimate and walk through your options, no pressure. If you've been thinking about a project or have a financial goal in mind, your equity might be the key to making it happen without turning to high-interest alternatives.

Reach out and let's talk about what your equity could do for you.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Taylor Lacy team any time and we'll walk you through your options.

Your Mortgage Advisor

Taylor Lacy

taylor@lacyloans.com

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