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Mortgage Market Update
Paul Jaimes
Paul Jaimes
Tuesday, November 3, 2026
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How much equity are you sitting on? |
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Understanding your finances is the best way to make confident decisions about your home. This week, I want to help you think clearly about a number that often gets overlooked.
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National Mortgage Rates · October 30, 2026
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Conventional 30-Year
7.15%
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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 Awareness
Do you know how much equity you have?
If you've owned your home for a few years, chances are you've built up equity—the difference between what your home is worth and what you still owe on your mortgage. Many homeowners don't realize how much they have. Knowing your equity number matters because it opens doors: you may be able to tap into it for home improvements, consolidate debt, or refinance into better terms. Even if you're not ready to make a move right now, understanding your equity position is smart planning. If you'd like a straightforward conversation about what your equity might look like and what options it could create for you, I'd love to help. Let's talk about your home's equity and what it could mean 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 Paul Jaimes team any time and we'll walk you through your options. |
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