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Mortgage Market Update
Joe Almeida
Joe Almeida
Saturday, October 31, 2026
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Are you leaving equity on the table? |
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Not all money in your home is trapped there. Here's what you need to know about building and using your equity wisely.
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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 & Leverage
Your home's equity is working—make sure you are too
One of the easiest things to overlook is the equity you're building with every payment. Over time, as you pay down your loan balance and your home holds value, that equity becomes real wealth sitting right in your house. The good news: you don't have to just let it sit there. Depending on where you are in your loan, you might have options to tap that equity—whether for repairs, education, debt consolidation, or other big-picture goals. The first step is understanding how much you actually have and what makes sense for your situation. I'd rather see you have a real conversation about your options than wonder 'what if' down the road. Let's talk about what your equity could 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 Joe Almeida team any time and we'll walk you through your options. |
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