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Mortgage Market Update
Fawn Crosby
Fawn Crosby
Saturday, October 31, 2026
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Building equity—and what comes next |
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Hi there. As we head into the final stretch of the year, I wanted to circle back on something many of you have been asking about.
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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 your home equity can actually do for you
If you've been in your home for a few years and made regular payments, you likely have built up equity—real money sitting in your property. Many homeowners don't realize how flexible that equity can be. Depending on your situation, you might tap into it for a major repair, consolidate debt, or fund a project without touching savings. The key is understanding your options: a cash-out refinance, a home equity loan, or a line of credit each work differently and suit different needs. Before you assume any option is out of reach, it's worth having a real conversation about what makes sense for your goals and cash flow. I'm here to walk you through how it works and whether it's the right move for you. Let's talk about whether your equity could work for you right now.
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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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