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Mortgage Market Update
Sabrina Richardson
Sabrina Richardson
Tuesday, November 3, 2026
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How much equity are you sitting on? |
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Every week I hear from homeowners who had no idea how much financial flexibility they'd already built into their home. This week, let's talk about that.
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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 Check
Your home equity might be worth more than you think
If you bought your home a few years ago, there's a good chance it's worth more today than what you still owe on it. That difference is your equity—and it's a powerful financial tool. You can tap into it through a cash-out refinance or a home equity line of credit, depending on what you need the money for and which option fits your situation best. Whether you're thinking about home improvements, consolidating debt, or funding a major expense, understanding what you have to work with is the first step. I'd love to sit down with you (or hop on a quick call) to walk through what your equity position looks like and what it could mean for you. Let's talk about what your home is worth to you right now.
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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 Sabrina Richardson team any time and we'll walk you through your options. |
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