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Mortgage Market Update
Marc Sears
Marc Sears
Saturday, October 31, 2026
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How much equity do you have right now? |
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One of the best parts of homeownership is that your payments work for you—building value you actually own. This week, let's talk about equity and why it matters.
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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 money you're building in your home
Every mortgage payment you make builds equity—you're paying down what you owe and own more of your home. Over time, that equity can become a resource. Some borrowers tap it for home improvements, education, or other major expenses through a cash-out refinance or a home equity line. Others simply let it grow as their home appreciates. Either way, it's worth understanding what you have and what options exist if you need it. The more you know about your own position, the better decisions you can make down the road. If you're curious about how much equity you might have or what using it could look like, I'd like to walk through it with you. Let's talk about your home equity and what options might be available to 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 Marc Sears team any time and we'll walk you through your options. |
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