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Mortgage Market Update
Markiesia Scott
Markiesia Scott
Saturday, October 31, 2026
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Your home is building wealth for you |
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Most homeowners don't realize how much financial strength they're quietly building. Let me explain what I mean.
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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
Your home equity is working harder than you think
Every mortgage payment you make builds equity—that's the portion of your home's value you actually own. Over time, this becomes real financial power. You can tap into it for major expenses, use it to improve your home, or even leverage it if life circumstances change. The longer you stay in your home, the more equity you accumulate. It's one of the most underappreciated benefits of homeownership, and it happens quietly in the background without you having to do anything extra. If you're curious about how much equity you may have built, or whether your situation might allow you to use it, I'd be glad to walk through the numbers with you. Reach out anytime if you'd like to explore what your equity might 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 Markiesia Scott team any time and we'll walk you through your options. |
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