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Mortgage Market Update
Giovanni Acosta
Giovanni Acosta
Saturday, October 31, 2026
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You might have more financial flexibility than you think |
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Hi there—I wanted to check in this week with something that often gets overlooked. Many homeowners have no idea how much equity they've actually built up over time, or what options that gives 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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Home Equity
What to do when your home is worth more than you owe
If you've owned your home for a few years, there's a good chance you've built meaningful equity—the difference between what your home is worth and what you still owe on your mortgage. That equity is real money, and it can work for you in several ways: you might refinance into better loan terms, tap it for a large expense or investment, or simply let it keep growing as you pay down your loan. The right move depends on your situation, your goals, and what rates look like when you're ready to move. The important thing is knowing what you have and understanding your options. I'd love to talk through where you stand and what might make sense for your family.
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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 Giovanni Acosta team any time and we'll walk you through your options. |
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120 Kisco Ave Suite T, Mount Kisco, NY 10549
www.homepluscapital.com
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