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Mortgage Market Update
Caleb May
Caleb May
Saturday, October 31, 2026
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Home equity: what you may not realize you have |
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Hi—I wanted to share something I see homeowners overlook all the time. Your equity is more than just a number on paper.
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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 Strategy
What your home's value means for your finances
As a homeowner, you're building equity with every mortgage payment—but many people don't realize what that equity can actually do for them. Whether you're thinking about a major home project, consolidating debt, or preparing for life changes, understanding your equity position is important. You may have more financial flexibility than you think, and it's worth exploring your options before you need them. If you've owned your home for a while or values in your area have shifted, a conversation about what's available to you could open up possibilities you haven't considered. I'm here to walk through your situation and show you what makes sense for your goals. Let's talk about what your home 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 Caleb May team any time and we'll walk you through your options. |
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