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Saturday, October 31, 2026 |
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Mortgage Market Update
What your equity could do for you
Hi there. I wanted to share something that often gets overlooked: the real value of the equity you're building in your home.
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National Mortgage Rates · October 29, 2026
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Conventional 30-Year
6.90%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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 Basics
Your home equity isn't just a number
If you've been paying your mortgage for a while, you've probably built up equity—the difference between what your home is worth and what you still owe. But equity isn't just something to know about; it's a real financial tool you can actually use. Some borrowers tap into it through a refinance or a home equity line of credit when they need cash for repairs, education, or other major expenses. Others simply let it grow as part of their long-term wealth. The point is: understanding what you have access to gives you options. If you're curious whether your equity could work for you right now, I'd love to walk through the possibilities.
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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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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 Jake Kornberg team any time and we'll walk you through your options.
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5060 Baker Rd Minnetonka, MN. 55345
612-396-0227
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