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Mortgage Market Update
Jasmine Wright
Mortgages the Wright Way
Saturday, October 31, 2026
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How much equity do you have in your home? |
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Hi there—I hope you're having a good week. Today I want to talk about something that grows quietly in the background of homeownership: equity.
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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
Your home is working for you every month
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe on it. Over time, this grows into real wealth you can tap into if you need it. Some borrowers don't realize how much equity they've accumulated, especially if they've been in their home for a few years. Knowing your equity position matters because it opens doors: you might qualify for a cash-out refinance, a home equity line of credit, or better loan terms if you ever need to move or upgrade. It's worth taking stock of where you stand. If you're curious about how much equity you've built, I'd love to walk through it with you. Let's talk about your home equity and 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 Jasmine Wright team any time and we'll walk you through your options. |
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