Mortgage Market Update

James Vogel

Friday, October 23, 2026

Do you know your home's equity?

Hi there — this week we're looking at a tool many homeowners forget about. Your equity can be a real financial advantage if you know how to use it.

National Mortgage Rates · October 22, 2026

Conventional 30-Year

7.25%

FHA 30-Year

7.01%

VA 30-Year

6.92%

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.

Equity Check

Your home's equity is working for you

If you've owned your home for a few years and made regular mortgage payments, you likely have more equity than you realize. That's the difference between what your home is worth and what you still owe on your loan — and it's yours to tap into if you need it.

Whether you're facing an unexpected expense, planning a renovation, or consolidating debt, a cash-out refinance or home equity loan can turn that equity into funds without selling. The key is understanding your options and running the numbers to make sure the move makes sense for your situation. Not every option works for every person, so let's talk through what's available to you.

I'd be happy to walk you through what your equity could do — just reach out when you're ready.

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.

Tips for Homeowners

Rate Lock Strategy: When and How Long to Lock

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the James Vogel team any time and we'll walk you through your options.

Your Mortgage Advisor

James Vogel

james@cmafg.com

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