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Mortgage Market Update
KC McKeown
KC McKeown
Monday, October 26, 2026
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Do you know how much equity you have? |
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Here's what's on my mind this week: how many homeowners are sitting on opportunity without realizing it. Your equity is worth understanding.
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National Mortgage Rates · October 23, 2026
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Conventional 30-Year
7.23%
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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 & Refinancing
Your home's value might mean new options
If you've owned your home for a few years, there's a good chance you've built equity—the difference between what your home is worth today and what you still owe. That equity can unlock real opportunities, from refinancing to lower your payment or cash-out refinancing to fund a renovation or other goal. The tricky part is knowing when it makes sense to tap into it. A quick conversation about your current loan, your home's value, and what you're trying to accomplish can help clarify whether a refinance pencils out for you right now. I'm here to walk through the numbers and the trade-offs with no pressure. Let's talk about what your equity could mean for you.
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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 KC McKeown team any time and we'll walk you through your options. |
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