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Mortgage Market Update
Acorn Mortgage
Saturday, October 31, 2026
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Have you checked your home equity lately? |
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Hello,
I talk to homeowners every week who are surprised to learn how much equity they've built up. Here's what you should 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 equity is probably doing more than you realize
Every mortgage payment you make builds equity — that's the difference between what your home is worth and what you owe. Over time, that equity becomes real money you can access if you need it. Some borrowers don't realize they've built up enough equity to tap into for a major expense, a home project, or even to refinance into better terms. Knowing where you stand isn't just about numbers on paper; it helps you make smarter decisions about your money and your home. If you've owned your place for a few years, or if your home has appreciated, there's a good chance you have more flexibility than you think. Let's talk about what your equity position looks like and what options might be available to you.
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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 Acorn Mortgage team any time and we'll walk you through your options. |
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