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Mortgage Market Update
Justin Leach
JL Lending Team
Saturday, October 31, 2026
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Is your home building equity for you? |
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Hi there. This week I want to share something that often surprises homeowners when we sit down and look at the numbers.
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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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Home Equity
Your home might be working harder than you think
If you've owned your home for a few years, you've likely built up equity—that's the difference between what your home is worth and what you still owe on it. That equity is real money, and it can be a tool when you need it. Some borrowers use it to consolidate debt, pay for repairs or improvements, or handle unexpected expenses. The key is understanding what you have available and whether tapping into it makes sense for your situation. If you're curious about your equity position or wondering whether it could help you reach a financial goal, I'd like to walk through the numbers with you. Let's talk about what equity you might have and what your options could be.
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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 Justin Leach team any time and we'll walk you through your options. |
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