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Mortgage Market Update
Omar Navarro
Omar Navarro
Saturday, October 31, 2026
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What you can do with your home's equity |
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Hi there. I've been thinking about conversations I have with homeowners who've built up real equity but aren't sure what to do with it.
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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 & Options
Your home's equity is working—are you?
If you've owned your home for a few years, you likely have equity built up—that's the difference between what your home is worth and what you owe. That equity isn't just a number on paper. It can be a tool. Whether you're thinking about home improvements, consolidating debt, or funding a big expense, your equity might give you options you didn't realize you had. Some borrowers use it through a refinance; others explore a line of credit. The right move depends on your goals and your numbers. If you've been curious about what your equity could do for you, it's worth a conversation. I can walk you through what might make sense. Let's talk about how your equity could work for you—reach out anytime.
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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 Omar Navarro team any time and we'll walk you through your options. |
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