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Mortgage Market Update
Robert Hendley
Robert Hendley
Saturday, October 31, 2026
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Do you know how much equity you have? |
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Hello,
One of the best parts of owning a home is watching your equity grow over time. Here's what you should know about it and how it might help you.
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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 & Options
What your home's value means for your finances
If you've owned your home for a while, you've likely built up equity—the difference between what your home is worth and what you owe on your mortgage. That equity can open doors. Some homeowners tap into it through a refinance or a home equity line of credit when they need funds for a major expense or project. Others simply benefit from knowing they have options if life changes. The key is understanding what you have and thinking ahead about whether it makes sense for your situation. If you're curious whether your equity could work for you, I'd be happy to walk through the possibilities. Let me know if you'd like to talk about your home's equity and what it could mean for your future.
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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 Robert Hendley team any time and we'll walk you through your options. |
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