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Mortgage Market Update
Patrick Culleton
Patrick Culleton
Tuesday, November 3, 2026
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What's your home equity worth right now? |
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I talk a lot about rates and payments—but there's another side of homeownership that matters just as much. Let me explain what I mean.
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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
Your home's value might open new doors
Over time, your home builds equity—the difference between what it's worth and what you owe. That equity can become a real tool if you need it. Some borrowers use it to refinance into better loan terms, consolidate debt, or fund home improvements. Others leave it untouched and keep building. The right move depends on your situation: how much equity you have, what rates look like now, and what you actually need the money for. It's worth knowing what's possible, even if you decide to do nothing today. If you're curious whether your home's equity could work for you, I'm happy to walk 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 Patrick Culleton team any time and we'll walk you through your options. |
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