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Mortgage Market Update
Brett Stratton
Barrett Financial Group
Saturday, October 31, 2026
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What your mortgage payment is building |
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Hi there. This week I want to shine a light on something that's happening in the background of your mortgage — and it's working in your favor.
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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 is doing something powerful every month
Every payment you make builds equity in your home — the difference between what you owe and what your home is worth. Many homeowners don't realize how quickly this adds up, especially early on when you're paying down principal. Understanding your equity matters because it opens doors: you may be able to tap into it through a home equity line or loan if you need cash for repairs, education, or other goals. Plus, if life circumstances change and you need to move, that equity is yours to keep. The more you know about how your loan is working for you, the better decisions you can make down the road.
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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 Brett Stratton team any time and we'll walk you through your options. |
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2701 East Insight Way suite 150, Chandler, AZ 85286
+1 214-709-1484 | https://brettstratton.theradcrm.com/homepage
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