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Mortgage Market Update
Dave Medina
The Alevate Group/CMG Home Loans
Saturday, October 31, 2026
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Your home is building wealth right now |
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There's more happening with your mortgage than just monthly payments. Your equity is growing, and it's worth understanding how.
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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
How your mortgage is working for you
Every payment you make builds equity in your home — that's the difference between what you owe and what your house is worth. Over time, this grows into real wealth. The faster you pay down your loan, the more equity you accumulate, and the more options open up to you later: tapping into that equity for renovations, consolidating debt, or simply owning your home outright sooner. Understanding where you stand with your equity right now is worth a conversation. I can pull your numbers and show you exactly how much you've built and what your timeline looks like. It's one of those quiet wins that often flies under the radar until you need it.
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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 Dave Medina team any time and we'll walk you through your options. |
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28780 Single Oak Drive, Suite 250, Temecula, Ca 92590
951-858-4761 | https://www.cmgfi.com/team/Alevate-Group
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