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Mortgage Market Update
Tyler Burns
Lifestyle Lending
Saturday, October 31, 2026
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Do you know how much equity you have? |
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Hi there, I wanted to share something that often gets overlooked when people think about their homes: the equity you've already built. Whether you're a few years into your mortgage or much further along, it's worth understanding what you have and how it might help you down the road.
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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
When home equity becomes your financial tool
As you pay down your mortgage over time, you build equity—the difference between what your home is worth and what you owe on it. Many homeowners don't realize this equity can be accessed if life throws you a curveball: a major repair, education costs, or consolidating higher-interest debt. There are a few ways to tap into it, each with different terms and trade-offs. The key is understanding which option makes sense for your situation and your budget. If you're curious whether you have equity to work with, or you're wondering whether using it is the right move, I'm here to walk through the numbers with you. Reach out if you'd like to explore what your equity might look like and whether it 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 Tyler Burns team any time and we'll walk you through your options. |
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