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Mortgage Market Update
Laetitia Mortenson
Laetitia Mortenson
Thursday, October 22, 2026
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How much equity do you have right now? |
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Hi there. This week I want to talk about something that quietly builds wealth: the equity in your home.
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National Mortgage Rates · October 21, 2026
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Conventional 30-Year
7.30%
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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 equity is working harder than you think
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. But here's what many homeowners don't realize: you can tap into that equity if you need it. Whether you're thinking about a home renovation, paying off higher-interest debt, or funding a major life goal, a home equity line of credit or cash-out refinance might make sense. The key is understanding your options before you need them. If you've been in your home for a few years and have made progress on your loan, you likely have more equity than you think. I'd be happy to walk you through what you might have available and whether tapping into it makes sense for your situation. Let's talk about your home equity and what it could mean for your goals.
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Tip of the Week
Test your sump pump before the rainy season by pouring water into the pit — a failed pump can lead to serious basement flooding.
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Tips for Homeowners
Rate Lock Strategy: When and How Long to Lock
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1.
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A rate lock guarantees your interest rate for a set period — typically 30, 45, or 60 days. Longer locks cost more but protect you if the process takes longer than expected.
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2.
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Lock when you're under contract and confident the deal will close. Don't lock before you have a signed purchase agreement — you're paying for protection you may not need.
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3.
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If rates drop after you lock, ask your lender about a float-down option. Some lenders offer this for a fee, allowing you to take advantage of a lower rate if the market moves in your favor.
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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 Laetitia Mortenson team any time and we'll walk you through your options. |
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