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Mortgage Market Update
Tuyen Vuong
Tuyen Vuong
Friday, October 30, 2026
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What your home equity can actually do for you |
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Hi there. This week I want to walk you through something that often gets overlooked—but shouldn't.
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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 Basics
Your home equity is real money—here's what you can do with it
As you pay down your mortgage and your home appreciates, you build equity—the difference between what your home is worth and what you still owe. A lot of people don't realize this is a genuine financial asset you can tap into. Whether you're thinking about a major home renovation, paying off higher-interest debt, or handling an unexpected expense, a home equity loan or line of credit can be a smart way to borrow at favorable terms. The key is understanding your options and borrowing strategically—not just because you can, but because it makes sense for your situation. If you've been in your home for a few years, it's worth having a conversation about what equity you've built and whether it could work for you. Let's talk about your home equity and what options might fit your goals.
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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 Tuyen Vuong team any time and we'll walk you through your options. |
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