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Mortgage Market Update
Joseph Kennaley
Joseph Kennaley
Saturday, October 31, 2026
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What's your home worth to you right now? |
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We talk a lot about rates and monthly payments, but there's another number that matters just as much: your home equity. Here's why it deserves your attention.
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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
The wealth you're creating with every payment
Every mortgage payment you make builds equity—the portion of your home you actually own. Over time, this grows into real wealth. But many homeowners don't realize how much equity they've accumulated, or what they can do with it. Whether you're thinking about a home improvement, managing unexpected expenses, or planning your financial future, understanding your equity is the first step. If life has changed since you got your mortgage, your options may have changed too. I'd love to walk you through where you stand and what's possible. Let's talk about your equity and what it means 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 Joseph Kennaley team any time and we'll walk you through your options. |
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