Mortgage Market Update

TJ Gray

Saturday, October 31, 2026

What's your home actually worth to you?

Some of my clients are surprised when we talk about how much equity they've built. Here's why that conversation matters.

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.

Equity Awareness

You might have more home equity than you realize

If you've owned your home for a few years, or bought before values shifted, there's a good chance you've built equity you haven't thought much about. Equity is the difference between what your home is worth and what you still owe on your mortgage. It builds two ways: as you make payments, and as your home's value holds or grows over time.

Why does this matter? Because equity is a real financial asset sitting in your home. Some borrowers use it to fund home improvements, cover major expenses, or consolidate debt through a cash-out refinance. Others simply feel better knowing they own more and more of their home each month. If you're curious whether you might have equity worth exploring, I'd love to walk you through what that could look like for your situation.

Let's talk about your home's equity and what options might be available to 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 TJ Gray team any time and we'll walk you through your options.

Your Mortgage Advisor

TJ Gray

TJ@DestinationMTG.com

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