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Mortgage Market Update
Cait Haugen
Cait Haugen
Saturday, October 31, 2026
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The hidden wealth in your mortgage payment |
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Hi there—I wanted to share something that gets overlooked more often than it should: the power of building equity in your home.
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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 Building
Your mortgage does double duty for you
Every payment you make builds equity—the part of your home you actually own. That's different from rent, where payment goes to someone else. Even in the first few years when interest makes up most of your payment, you're still chipping away at what you owe and building real ownership. Over time, as your loan balance drops, that equity grows faster. It becomes a resource you may be able to tap into later through a refinance or home equity line if life throws you a curveball. The sooner you start, the more time your equity has to work for you. If you're curious what your equity position looks like today, I'm happy to walk through it with 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 Cait Haugen team any time and we'll walk you through your options. |
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