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Mortgage Market Update
Caleb May
Caleb May
Saturday, October 31, 2026
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Do you know your home equity number? |
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Hi there. A lot of homeowners sit on equity without realizing it or knowing what to do with 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 & Options
How much home equity do you actually have?
If you've been paying your mortgage for a while, you likely have more financial flexibility than you realize. Equity — the difference between what your home is worth and what you owe — can be tapped for major expenses, debt consolidation, or even funding improvements that raise your home's value further. The tricky part is knowing what you have and which tools make sense for your situation. Some borrowers benefit from a cash-out refinance; others prefer a home equity line of credit. The best option depends on your goals, timeline, and how you want to structure the debt. I'd be happy to walk you through what equity you've built and what doors it might open for you. Reach out if you'd like to explore your options — there's no cost to talk it through.
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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 Caleb May team any time and we'll walk you through your options. |
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