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Mortgage Market Update
Derek Niday
The Niday Lending Team
Saturday, October 31, 2026
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Do you know how much equity you have? |
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Hello — I wanted to touch on something homeowners don't always think about until they need to, and that's the equity building quietly happening in the background.
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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 home's equity is working for you
One of the quieter benefits of homeownership is that every mortgage payment builds equity — the portion of your home you actually own outright. As you pay down your loan balance and your home's value can shift over time, that equity grows. It's separate from rates, programs, or market timing; it's simply a natural part of the mortgage process. Understanding how much equity you may have can open doors down the road — whether you're thinking about a future project, curious about your financial position, or just want to know where you stand. If you've been in your home for a while, a conversation about your equity can be eye-opening and worth having. Let's talk about how much equity you've built and what it could mean for your situation.
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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 Derek Niday team any time and we'll walk you through your options. |
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