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Mortgage Market Update
Bill Szlinis
Bill Szlinis
Saturday, October 31, 2026
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How much equity do you have—and why it matters |
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Welcome back. This week I want to talk about something that builds quietly in the background for many homeowners.
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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
What your home equity can do for you
If you've been in your home for a while, you may have built up equity—the difference between what your home is worth and what you owe on it. That equity isn't just a number on paper; it can be a real financial tool. Some homeowners use it to fund home improvements, consolidate debt, or cover major expenses. The way you access it matters, though, and the options available to you depend on your situation. Before you make any moves, it's worth understanding what you have, what it could be used for, and whether tapping into it makes sense for your goals. I'm happy to walk you through how home equity works and what your options might look like. Let's talk about whether your equity 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 Bill Szlinis team any time and we'll walk you through your options. |
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