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Mortgage Market Update
sherry kerr
Sherry Kerr
Saturday, October 31, 2026
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How much of your home do you actually own? |
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One of the best-kept secrets about homeownership is that your mortgage is quietly building your wealth. Here's what you need to know.
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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 quietly working for you
Every payment you make builds equity—that's the difference between what your home is worth and what you owe. It's one of the biggest wealth-building tools most of us have, and it happens whether you're thinking about it or not. The longer you stay in your home, the more this compounds. Some of you have built substantial equity over the years, and that opens doors: you might refinance into better terms, tap that equity for major expenses, or simply feel more secure knowing you own more of your home each month. Understanding where you stand is the first step. I'd love to walk you through what your equity position looks like and what options might make sense for your situation. Let's talk about what your equity means for you right now.
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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 sherry kerr team any time and we'll walk you through your options. |
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