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Mortgage Market Update
Hardeep Rai
Hardeep Rai
Saturday, October 31, 2026
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How much equity do you actually have? |
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I work with homeowners who sometimes forget how much their mortgage is doing for them in the background. Today I want to remind you of one of the best parts of owning a 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 Building
Your home is working for you
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this grows into real wealth. It's one reason homeownership matters so much: you're not just paying rent to a landlord, you're building ownership in an asset. The longer you stay in your home, the more equity you accumulate. And if your home appreciates, that equity grows even faster. If you've owned your home for a few years, you might have more equity than you realize—and that can open doors, from refinancing options to funding other goals. It's worth taking a moment to understand what you've built. Let's talk about your home's equity and what it might mean 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 Hardeep Rai team any time and we'll walk you through your options. |
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