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Mortgage Market Update
Brett Stratton
Barrett Financial Group
Saturday, October 31, 2026
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What your monthly payment is actually building |
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Each week I share one thing about mortgages that might change how you think about your home. This week: the power of equity.
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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 is working for you every month
Every mortgage payment you make does two things: it covers interest to your lender, and it builds equity in your home. That equity is real wealth. Over time, as you pay down your loan balance, you own more of your home outright. This matters because your equity can become a tool later—whether you need to tap it for a major expense, refinance into better terms, or simply watch your net worth grow. The longer you stay in your home and keep making payments, the faster this happens. If you're curious about how much equity you've built so far, or what options that equity might unlock down the road, I'd love to walk you through it.
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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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