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Mortgage Market Update
Bruce Gruys
Bruce Gruys
Saturday, October 31, 2026
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Do you know how much equity you have? |
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It's easy to forget about the equity you're building month to month. But it's worth paying attention to.
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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 & Options
Home equity is working for you—here's how to use it
If you've owned your home for a while, you likely have equity built up in it. That's real money sitting in your property, and it can be a powerful tool when you need it. Whether you're facing unexpected expenses, considering home improvements, or thinking about consolidating debt, equity gives you options that renters don't have. The key is understanding what those options are and whether tapping into your equity makes sense for your situation. I'm happy to walk you through how much equity you may have and what programs might work for your goals. Get in touch anytime—I'm here to discuss what your equity can do 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 Bruce Gruys team any time and we'll walk you through your options. |
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