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Mortgage Market Update
The Douglas Team
The Douglas Team
Saturday, October 31, 2026
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Have you checked your home equity lately? |
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Hi there. I get a lot of questions about mortgages and rates, but one thing homeowners often overlook is understanding the equity they're building. Let me explain what that means 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
What your home equity can do for you
As you make mortgage payments, you build equity—the difference between what your home is worth and what you owe. That equity isn't just a number on paper. Depending on how much you've built up, it can be a tool for funding major expenses, handling emergencies, or tackling home improvements without starting from scratch financially. The more you understand what you have available to you, the better decisions you can make when life happens. If you've owned your home for a few years, you might be surprised at what's built up. I'd be happy to walk you through what that looks like for your situation and what options might be available. Reach out and let's talk about what your 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 The Douglas Team team any time and we'll walk you through your options. |
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