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Mortgage Market Update
Joseph Kennaley
Joseph Kennaley
Saturday, October 31, 2026
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How much equity have you built? |
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Every mortgage payment you make builds something valuable. I want to help you understand what that means and how to use it wisely.
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National Mortgage Rates · October 29, 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 Building
What your home equity can do for you
As you pay down your mortgage month after month, you're building equity—the difference between what your home is worth and what you still owe. A lot of borrowers don't realize how useful that equity can become. Depending on your situation, you might tap into it for a major expense, a home improvement project, or to consolidate other debts at a better rate. The key is understanding your options before you need them. Whether it's a home equity line of credit, a second mortgage, or a cash-out refinance, each has its own timing and terms. If you're curious about what your equity position looks like or want to explore what might make sense for your goals, I'm here to walk you through it. Let's talk about what your home equity could mean for your future.
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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 Joseph Kennaley team any time and we'll walk you through your options. |
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