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Mortgage Market Update
Ginny Foster
Ginny Foster
Saturday, October 31, 2026
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What's your home actually worth to you? |
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With every payment you make, something important is happening behind the scenes. I wanted to walk you through it.
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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 is working for you every month
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. That's money staying in your pocket instead of going to rent. Over time, as you pay down your loan and your home's value can shift, that equity grows. Some borrowers are surprised to learn how much they've already built up, especially if they've been in their home for a few years. Understanding your equity matters because it can unlock options down the road—whether that's a cash-out refinance for a home project, leverage for a future purchase, or simply knowing your net worth is climbing. If you're curious about where you stand, I'd love to take a look. Let's talk about what your equity picture looks like and what it could mean 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 Ginny Foster team any time and we'll walk you through your options. |
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