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Mortgage Market Update
Sandy McAlpine
Sandy McAlpine
Wednesday, November 4, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to talk about something that quietly builds over time—and that a lot of homeowners overlook entirely.
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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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Home Equity
Your home's value might be working harder than you think
If you've owned your home for a few years, there's a good chance you've built equity—that's the difference between what your home is worth today and what you still owe on your mortgage. Many homeowners don't realize this equity can be a real financial tool. Whether you're thinking about a major renovation, covering an unexpected expense, or consolidating debt, tapping into your home's equity through a refinance or a home equity line of credit might be worth exploring. The key is understanding your options and making sure any move aligns with your long-term goals. I'd love to walk you through what's possible in your situation. Let's talk about whether your equity could work for 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 Sandy McAlpine team any time and we'll walk you through your options. |
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