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Mortgage Market Update
Martha Keeter
Martha Keeter
Thursday, October 22, 2026
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How much equity do you have right now? |
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Hi there,
This week I'm thinking about something that doesn't always get the attention it deserves: the quiet power of building equity in your home.
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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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Equity Building
Your mortgage is building wealth every month
One thing I love reminding people about: every payment you make goes toward ownership. Part goes to interest, sure, but part builds equity—real ownership stake in your home. Over time, that balance tips more and more in your favor. If you've owned your home for a few years, you may have built up meaningful equity without even realizing it. That equity can open doors down the road, whether you're thinking about a refinance, a home improvement project, or just peace of mind knowing you're building toward something real. It's easy to focus on the monthly payment and forget about the bigger picture. I'd love to help you understand where you stand. Let's talk about your equity and what options might be available to 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 Martha Keeter team any time and we'll walk you through your options. |
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