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Mortgage Market Update
Emily Torvik
Emily J Torvik
Tuesday, November 3, 2026
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How much equity do you actually have? |
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Most homeowners know they're building equity, but few take time to understand it or put it to work. Let's change that.
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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 Building
Your home is working harder than you think
Every payment you make builds equity—the difference between what your home is worth and what you owe. Most homeowners don't realize how much equity they've accumulated over time, or what they can do with it. Whether you're thinking about a major home project, consolidating debt, or just curious about your financial position, understanding your equity is the first step. The sooner you know where you stand, the sooner you can make decisions that work for your future. I'd love to help you get a clear picture of your situation. Reach out and we can talk through what your equity means 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 Emily Torvik team any time and we'll walk you through your options. |
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