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Mortgage Market Update
CHRIS MILLER
Chris Miller
Saturday, October 31, 2026
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How much equity do you have right now? |
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Hi there. This week I want to touch on something that quietly builds throughout homeownership—and can open up real opportunities when you need them.
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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
Your home is working for you
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Over time, this adds up to real wealth. If you've owned your home for a few years, you may have more equity than you realize. Some borrowers use that equity to fund home improvements, consolidate debt, or handle unexpected expenses. Others simply let it grow. Either way, knowing what you have is the first step. I can help you understand your current equity position and explore your options if the time feels right to tap into it. Let's talk about what your home equity means for your next move.
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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 CHRIS MILLER team any time and we'll walk you through your options. |
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