Mortgage Market Update

Bowen Belmer

Tuesday, November 3, 2026

How much equity have you built?

Hi there. This week I want to talk about something that works quietly in your favor every single month.

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.

Equity Building

Your home is working for you every month

Every mortgage payment you make builds equity—the difference between what your home is worth and what you still owe. Over time, that adds up to real wealth. The sooner you start, the more you benefit from that compounding effect. If you've been a homeowner for a few years, you might be surprised how much equity you've already built, especially if your home's value has held steady or grown. That equity can open doors later—whether you want to refinance, tap into it for a major expense, or simply own your home free and clear sooner. The best part? You're building it automatically, just by living here and making your payments on time.

If you'd like to know roughly where you stand on equity, I'm happy to take a look and talk through what that means for your situation.

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 Bowen Belmer team any time and we'll walk you through your options.

Your Mortgage Advisor

Bowen Belmer

bowen@barrettfinancial.com

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