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Mortgage Market Update
Cheyene DeWeese
Cheyene DeWeese
Saturday, October 31, 2026
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What your home equity can do for you |
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Not all equity stays locked up in your home. Here's what you should know about yours.
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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 & Cash-Out
Your home's equity could work for you
If you've been in your home for a few years, you likely have equity built up—the difference between what your home is worth and what you owe on it. That equity isn't just a number on paper. Depending on your situation, you may be able to tap into it through a cash-out refinance to fund home improvements, pay off other debts, or cover a major expense. It's not the right move for everyone, and the timing matters. But if you've been wondering whether your equity is sitting idle, it's worth exploring what options might be available to you. I'd be happy to walk through how this could work in your specific situation. Let's talk about whether a cash-out refinance makes sense for you right now.
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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 Cheyene DeWeese team any time and we'll walk you through your options. |
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