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Mortgage Market Update
Chris Opfer
Christopher R Opfer
Saturday, October 31, 2026
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What's your home actually worth? |
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Hi there—this week I want to talk about something that builds quietly in the background: home equity, and why it matters to know where you stand.
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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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Home Equity
Your home may be worth more than you think
If you bought your home a few years ago, or even recently, you may have built up equity without realizing it. Equity is the difference between what your home is worth today and what you still owe on your mortgage. As your home's value changes and you make monthly payments, that equity grows—and it can open doors. Some borrowers tap into their equity for home improvements, education, or other goals. Others use it to refinance into better loan terms. Knowing your equity position is the first step. It helps you understand your options and make decisions that work for your situation. If you're curious about what your home might be worth or how much equity you've built, I'd love to walk through it with you. Let's talk about your equity and what it could mean for your next move.
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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 Chris Opfer team any time and we'll walk you through your options. |
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