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Mortgage Market Update
Scott Campbell
Scott Campbell
Saturday, October 31, 2026
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Home equity: more than just a number |
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Hi there. I wanted to touch base about something that often gets overlooked—the equity you've built 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 & Options
What your home equity can do for you
If you've been in your home for a while, you likely have equity built up—the difference between what your home is worth and what you owe. That equity isn't just a number on paper; it can be a tool. Some homeowners use it to fund home improvements, consolidate debt, or cover major expenses through a cash-out refinance or home equity line of credit. Others simply hold onto it as a financial cushion. The right move depends on your goals, your timeline, and what makes sense for your household. It's worth understanding what options are available to you and whether tapping into equity fits your plan. Let's talk about whether your equity could work 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 Scott Campbell team any time and we'll walk you through your options. |
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