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Mortgage Market Update
Albert Miller
Albert Miller
Saturday, October 31, 2026
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What's your equity actually worth? |
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A lot of homeowners don't realize how much financial flexibility they've already built into their home. Here's what you should know.
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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 & Access
Your home's equity is doing more than you think
If you've been in your home a while, you've probably built up equity without thinking much about it. Every mortgage payment adds to it. So do home value increases in your neighborhood. That equity isn't just something to feel good about—it can actually work for you when you need it. Whether you're facing an unexpected expense or considering a major project, understanding what you have available is worth a conversation. Different loan programs let you access that equity in different ways, and which one makes sense depends on your situation. If you're curious about what your home is actually worth to you right now, I'd be happy to walk through it. Reach out and let's talk about your equity and what options might fit your life.
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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 Albert Miller team any time and we'll walk you through your options. |
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