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Mortgage Market Update
Lenni Oh
Lenni Oh
Saturday, October 31, 2026
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How much equity are you sitting on? |
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Hi there. I wanted to share something about homeownership that often goes unnoticed—but shouldn't.
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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
The wealth you're already building in your home
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Over time, this becomes real wealth. The sooner you understand how much equity you may have, the sooner you can think strategically about it. Some borrowers use equity to refinance into better terms. Others tap it for home improvements or life expenses. And some simply let it grow. The point is, you have options—but only if you know what you're working with. Your equity isn't just a number on paper; it's financial flexibility you've earned. If you'd like to talk through how much equity you might have and what it could mean for your situation, I'm here to help.
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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 Lenni Oh team any time and we'll walk you through your options. |
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