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Mortgage Market Update
Jake McDonald
Jake McDonald
Saturday, October 31, 2026
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How much equity do you have right now? |
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Happy to help you understand your home equity and what it means for your financial picture. Here's what you should know.
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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
The equity you're building right now
Every mortgage payment you make does two things: it covers interest to your lender, and it builds equity in your home. Over time, that second part adds up—especially if your home's value has appreciated. Knowing how much equity you have matters because it opens doors: you could tap it for major expenses through a home equity line or loan, or it gives you options if life circumstances change. The tricky part is that many homeowners don't have a clear picture of their equity position. A simple conversation with me can help you understand what you've built and what it means for your financial flexibility down the road. Let's talk about your equity position and what options might make sense 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 Jake McDonald team any time and we'll walk you through your options. |
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