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Mortgage Market Update
Joe Edwards
Joe Edwards
Saturday, October 31, 2026
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Do you know how much equity you have? |
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Hi there. I wanted to touch base about something that often goes overlooked: the equity sitting in your home right now.
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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 could open new doors
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Over time, that equity can become a real financial resource. Some borrowers tap into it for home improvements, education, or other major expenses through a home equity loan or line of credit. Others use it as a foundation for their next move. The amount of equity you have depends on your home's value, how much you've paid down, and market conditions in your area. If you're curious whether you might have meaningful equity built up, or you're wondering what options that could create, I'd love to walk through it with you. There's no obligation—just honest guidance about what your home's value might mean for your financial flexibility. Let me know if you'd like to explore your equity situation.
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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 Joe Edwards team any time and we'll walk you through your options. |
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