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Mortgage Market Update
Karen Cely Chavez
Karen Cely Chavez
Saturday, October 31, 2026
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What equity in your home means right now |
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Hi there. One of the best parts of homeownership is what happens over time—and I want to make sure you're aware of 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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Home Equity
Your home's value may be working for you
As you make mortgage payments and home values change, you build equity—the difference between what your home is worth and what you owe. That equity can become a tool. Whether you're thinking about a renovation, covering an unexpected expense, or managing debt, knowing what you have available is the first step. You don't have to use it, but understanding your options gives you real choices. If you're curious about your current equity position or what you might do with it down the road, I'd be happy to walk through the numbers with you. No pressure, just clarity. Let's talk about what equity means for your 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 Karen Cely Chavez team any time and we'll walk you through your options. |
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