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Mortgage Market Update
Fawn Crosby
Fawn Crosby
Saturday, October 31, 2026
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How much home equity do you have? |
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Hi there. This week I want to talk about something that often goes overlooked: the equity you're building in your home.
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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
How much equity are you sitting on?
Your home builds wealth in two ways: as you pay down your loan balance over time, and as your property appreciates. Together, that's equity—the difference between what your home is worth and what you still owe on it. Equity matters because it can open doors. If life changes and you need access to cash for a major expense, home improvement, or consolidating debt, you may have options. The longer you've owned your home or the more you've paid down, the more equity you likely have. It's worth taking a moment to understand where you stand, especially if it's been a while since you thought about it. I'd be happy to run the numbers with you and talk through what your equity means for your financial picture. Let's take a look at your equity and explore what options might make sense for your situation.
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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 Fawn Crosby team any time and we'll walk you through your options. |
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