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Mortgage Market Update
Nicholas Dolen
Nicholas Dolen
Saturday, October 31, 2026
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The equity sitting in your home, explained |
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One of the best-kept secrets in homeownership is that your home can be more than a place to live—it can be a financial tool. Here's what you need to know.
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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
You might have more borrowing power than you think
If you've owned your home for a few years and made payments, you've likely built equity—the difference between what your home is worth and what you still owe. That equity can work for you. Whether you're thinking about a major renovation, covering unexpected expenses, or consolidating higher-interest debt, a home equity loan or line of credit lets you tap that value at rates that are often better than personal loans or credit cards. The key is understanding how much you actually have available and whether borrowing against it makes sense for your situation. I'm happy to walk through the numbers with you—no obligation. It's one of those conversations that can open up real options. Let's talk about what your equity could do for you.
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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 Nicholas Dolen team any time and we'll walk you through your options. |
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