Mortgage Market Update

Allie Stevens

Saturday, October 31, 2026

Turning your home equity into opportunity

One of the smartest parts of homeownership is the wealth you build over time. This week I want to talk about what to do when you're ready to put that to work.

National Mortgage Rates · October 29, 2026

Conventional 30-Year

7.15%

FHA 30-Year

7.04%

VA 30-Year

6.79%

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.

Home Equity

Your home is building wealth. Here's how to tap it.

If you've owned your home for a few years, you likely have equity—the difference between what your home is worth and what you owe on your mortgage. That equity can be a real financial tool when you need it.

There are a few ways to access it: a home equity line of credit, a home equity loan, or a cash-out refinance. Each works differently and makes sense in different situations. The right choice depends on your timeline, what you're using the money for, and your overall financial picture. It's worth understanding your options before you need them in a pinch.

If you'd like to explore what your home's equity means for your situation, I'd be happy to walk through it with you.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Allie Stevens team any time and we'll walk you through your options.

Your Mortgage Advisor

Allie Stevens

astevensaz@gmail.com

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