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Mortgage Market Update
Tyler Cuzzort
Tyler Cuzzort
Thursday, October 22, 2026
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Do you know how much equity you have? |
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It's easy to lose sight of what your home is really worth to you financially. This week, let's talk about one of the most valuable assets you own and how to use it wisely.
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National Mortgage Rates · October 21, 2026
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Conventional 30-Year
7.30%
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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
Your home's value might be working for you
If you've owned your home for a few years, you've likely built up equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper; it can be a powerful financial tool. Whether you're thinking about a major renovation, consolidating debt, or funding an education, a home equity line of credit or cash-out refinance lets you borrow against what you've already paid down. The key is understanding which option makes sense for your situation and your goals. I'd be happy to walk through what you might qualify for and whether tapping into your equity makes sense right now. Reach out if you'd like to explore how much equity you might have available to use.
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Tip of the Week
Test your sump pump before the rainy season by pouring water into the pit — a failed pump can lead to serious basement flooding.
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Tips for Homeowners
Rate Lock Strategy: When and How Long to Lock
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1.
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A rate lock guarantees your interest rate for a set period — typically 30, 45, or 60 days. Longer locks cost more but protect you if the process takes longer than expected.
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2.
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Lock when you're under contract and confident the deal will close. Don't lock before you have a signed purchase agreement — you're paying for protection you may not need.
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3.
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If rates drop after you lock, ask your lender about a float-down option. Some lenders offer this for a fee, allowing you to take advantage of a lower rate if the market moves in your favor.
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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 Cuzzort team any time and we'll walk you through your options. |
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