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Mortgage Market Update
Bryan Beasley
Bryan Beasley
Thursday, October 22, 2026
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How much equity do you have? |
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Hi there—I hope things are going well for you and your family. This week I want to touch on something that often surprises people: the equity they've already built in their homes.
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National Mortgage Rates · October 21, 2026
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Conventional 30-Year
7.30%
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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 Check
Your home is likely worth more than you think
If you've owned your home for a few years, you probably have more equity built up than you realize. Equity is the difference between what your home is worth today and what you still owe on your mortgage. As you make monthly payments, that equity grows—and so does your financial flexibility. Some of you may have enough equity to tap into through a refinance or home equity loan, which could help pay for repairs, consolidate debt, or fund other goals. Even if you're not ready to borrow against it, it's worth knowing what you have. A quick conversation with me about your home's current value and your loan balance can give you a clear picture of where you stand financially. Let's talk about your equity and what options might make sense for you.
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Tip of the Week
Test your sump pump before the rainy season by pouring water into the pit — a failed pump can lead to serious basement flooding.
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Tips for Homeowners
Rate Lock Strategy: When and How Long to Lock
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1.
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A rate lock guarantees your interest rate for a set period — typically 30, 45, or 60 days. Longer locks cost more but protect you if the process takes longer than expected.
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2.
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Lock when you're under contract and confident the deal will close. Don't lock before you have a signed purchase agreement — you're paying for protection you may not need.
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3.
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If rates drop after you lock, ask your lender about a float-down option. Some lenders offer this for a fee, allowing you to take advantage of a lower rate if the market moves in your favor.
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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 Bryan Beasley team any time and we'll walk you through your options. |
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