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Mortgage Market Update
Caleb May
Caleb May
Tuesday, November 3, 2026
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Do you know how much equity you have? |
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I help homeowners understand what they own. This week, let's talk about equity—and why it matters more than you might think.
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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 for you—here's how
Every mortgage payment you make builds equity in your home. That's real wealth accumulating over time, separate from whatever happens with property values or interest rates. Some borrowers don't realize how much equity they've already built, especially if they've been in their home for a few years. Knowing your equity position matters because it opens doors—refinancing options, home improvement loans, or major life decisions all depend on understanding what you own versus what you owe. I'm always happy to run a quick equity check for you, no strings attached. It's a solid habit to revisit once a year. Reach out anytime you'd like to see where your equity stands today.
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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 Caleb May team any time and we'll walk you through your options. |
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