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Mortgage Market Update
Elijah Bernhardt
Elijah Bernhardt
Saturday, October 31, 2026
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Do you know how much equity you've built? |
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Hi there—I want to make sure you're thinking about one of the biggest advantages of homeownership. Here's what homeowners should know about building and using equity.
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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 & Access
Your home equity might be worth more than you think
As a homeowner, you're building equity with every payment you make. That equity can be a powerful financial tool when you need it—whether you're facing an unexpected expense, funding a home improvement, or consolidating debt. The amount you've built up depends on your home's current value and how much you still owe. If your home has appreciated or you've paid down your loan over time, you may have more access to cash than you realize. I'd recommend getting a clear picture of where you stand. It takes just a conversation to understand your options and whether tapping into your equity makes sense for your situation. Reach out and let's talk about what your equity could mean 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 Elijah Bernhardt team any time and we'll walk you through your options. |
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