Historically, expectancy–value models of motivation assumed a synergistic relation between expectancy and value: motivation is high only when both expectancy and value are high. Motivational processes were studied from a within-person perspective, with expectancies and values being assessed or experimentally manipulated across multiple domains and the focus being placed on intraindividual differences. In contrast, contemporary expectancy–value models in educational psychology concentrate almost exclusively on linear effects of expectancy and value on motivational outcomes, with a focus on between-person differences. Recent advances in latent variable methodology allow both issues to be addressed in observational studies. Using the expectancy–value model of homework motivation as a theoretical framework, this study estimated multilevel structural equation models with latent interactions in a sample of 511 secondary school students and found synergistic effects between domain-specific homework expectancy and homework value in predicting homework engagement in 6 subjects. This approach not only brings the “×” back into expectancy–value theory but also reestablishes the within-person perspective as the appropriate level of analysis for latent expectancy–value models.