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Mortgage Market Update
Deuane Woodard
Deuane Woodard
Tuesday, November 3, 2026
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What's your home equity worth to you? |
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Hi there—this week I want to talk about something a lot of homeowners overlook. If you've built up equity in your home, you have options. 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 Strategy
What your home equity can actually do for you
If you've been paying your mortgage for a while, there's a good chance you've built up equity—real financial value sitting in your home. A lot of people don't realize what that means in practical terms. Equity can become a tool: you might tap it for a major expense, consolidate higher-interest debt, or fund a home improvement that adds value back. The key is understanding your options and what makes sense for your situation. If you're curious whether your equity could work harder for you, or you're just wondering how much you actually have, I'd be happy to walk through it. There's no obligation—just clarity. Let's talk about what your equity means for your goals.
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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 Deuane Woodard team any time and we'll walk you through your options. |
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