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Mortgage Market Update
Brandy Harris
Brandy Harris
Saturday, October 31, 2026
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What your home equity can do for you |
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Hello! This week I'm touching on something a lot of homeowners overlook—the real power of the equity they've already built.
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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 & Options
Your home's value may open doors you didn't know existed
As a homeowner, you build equity every month—through your payments, and potentially through your home's value. That equity can be a powerful tool when you need it. Whether you're thinking about a major repair, paying for education, or consolidating debt, tapping into home equity is often simpler and more affordable than other borrowing options. The key is understanding what you have available and whether it makes sense for your situation right now. I'd be happy to walk you through what your equity position looks like and what options might work for you. Let's talk about how your equity could work for you.
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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 Brandy Harris team any time and we'll walk you through your options. |
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