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Mortgage Market Update
Wade Willers
Wade Willers
Saturday, October 31, 2026
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Your mortgage is building wealth |
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A lot of homeowners don't realize the power of what's already happening with their loan. 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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Equity Building
Your mortgage is doing something most renters can't
Every payment you make builds ownership in your home. That's equity—the difference between what your house is worth and what you still owe. Over time, it grows without you doing anything extra. Some people tap into it later for major expenses or improvements. Others just let it compound. Either way, it's an advantage that's working quietly in the background. If you're not sure how much equity you have, or whether it might be useful to you down the road, I'm happy to walk through the numbers and talk about your options. There's no pressure—just information. Let me know if you'd like to discuss your home's equity and what it could mean for your future.
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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 Wade Willers team any time and we'll walk you through your options. |
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