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Mortgage Market Update
Dustin Munu
Dustin Munu
Thursday, October 22, 2026
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Do you know how much equity you have? |
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Markets shift, but the fundamentals of smart borrowing stay the same. Here's what you should know this week.
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National Mortgage Rates · October 21, 2026
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Conventional 30-Year
7.30%
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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 equity can work for you
If you've owned your home for a few years, you likely have built up equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. It can become real money when you need it, through a home equity line of credit, a cash-out refinance, or a home equity loan. These tools let you borrow against your equity at rates that are often better than credit cards or personal loans, and the interest may be tax-deductible. Whether you're funding home repairs, consolidating debt, or covering a major expense, understanding your options makes a real difference. I'd love to walk you through what might make sense for your situation. Let's talk about how much equity you have and what you could do with it.
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Tip of the Week
Test your sump pump before the rainy season by pouring water into the pit — a failed pump can lead to serious basement flooding.
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Tips for Homeowners
Rate Lock Strategy: When and How Long to Lock
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1.
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A rate lock guarantees your interest rate for a set period — typically 30, 45, or 60 days. Longer locks cost more but protect you if the process takes longer than expected.
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2.
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Lock when you're under contract and confident the deal will close. Don't lock before you have a signed purchase agreement — you're paying for protection you may not need.
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3.
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If rates drop after you lock, ask your lender about a float-down option. Some lenders offer this for a fee, allowing you to take advantage of a lower rate if the market moves in your favor.
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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 Dustin Munu team any time and we'll walk you through your options. |
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