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Mortgage Market Update
Raphael Bangiyev
Raphael S Bangiyev
Thursday, October 22, 2026
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Do you know how much equity you have? |
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Homeowners often don't realize how much financial power they've built into their homes. This week, we're talking about equity and why it matters.
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National Mortgage Rates · October 20, 2026
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Conventional 30-Year
7.33%
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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 Check
Your home might be worth more than you think
If you bought your home a few years ago, or made a significant down payment, you likely have built equity—the difference between what your home is worth and what you owe. That equity can be a valuable tool. Some borrowers tap it for home improvements, education, or debt consolidation through a cash-out refinance or home equity line of credit. Others simply let it grow as a safety net and a hedge against uncertainty. The key is understanding what you actually have. A quick conversation with me can help you figure out your home's current value, how much equity you've built, and whether any of those options make sense for your situation right now. No pressure—just clarity. Let's take a look at your equity position and explore what's possible.
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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 Raphael Bangiyev team any time and we'll walk you through your options. |
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