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Mortgage Market Update
Brent Moody
Edge Home Finance Corp
Saturday, October 31, 2026
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You might be sitting on more equity than you think |
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A lot of homeowners don't realize just how powerful their equity can be. Whether you've been in your home for years or just a few months, we should talk about 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 Building
What your equity actually means for you
As you pay down your mortgage, you're building equity—the difference between what your home is worth and what you still owe. But equity is more than just a number on paper. It can be a tool when you need it: a way to tap funds for home repairs, education, or consolidating debt through a home equity line of credit or refinance. It also protects you if the market shifts. The sooner you understand what equity you have and what it might unlock, the better you can plan ahead. I'd love to run a quick estimate for you—no strings attached. Let's talk about how much equity you may have built and what options make sense for your situation.
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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 Brent Moody team any time and we'll walk you through your options. |
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(253) 381-4067 | www.brentmoodyloans.com
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