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Mortgage Market Update
Ryan Spencer
Ryan Spencer
Saturday, October 31, 2026
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Your home equity could work harder for you |
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Hi there. This week I want to talk about something that builds quietly in the background — and something a lot of homeowners overlook.
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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
The equity you've built might be more useful than you realize
Every payment you make builds equity in your home — that's the difference between what your house is worth and what you still owe. Over time, that equity becomes real financial flexibility. Whether you're thinking about a major home project, managing unexpected expenses, or planning ahead, knowing what you have available can open doors you didn't know existed. Different loan programs let you tap that equity in different ways, each with its own advantages depending on your situation. The first step is simply understanding how much you've built and what your options actually are. I'd love to walk you through what's available to you. Let's talk about your home equity and what it could mean for your goals.
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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 Ryan Spencer team any time and we'll walk you through your options. |
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