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Mortgage Market Update
James Schneider James Schneider
James Schneider
Friday, October 23, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to talk about something many homeowners have but don't always think about: the equity in your home.
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National Mortgage Rates · October 22, 2026
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Conventional 30-Year
7.25%
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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 Check
Your home's equity could open new doors
If you've owned your home for a few years, or if your property has appreciated, you likely have equity built up. That equity can work for you in several ways — whether you're thinking about a cash-out refinance, a home equity line of credit, or just want to know where you stand. The key is understanding what you have and what makes sense for your situation. Some people use equity to fund home improvements, pay off debt, or cover major expenses. Others leave it alone. There's no one right answer, but knowing your number is the first step. If you're curious about how much equity you've built and what your options might be, I'd be happy to walk through it with you — no pressure, just clarity. Reach out if you'd like a quick equity conversation.
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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 James Schneider James Schneider team any time and we'll walk you through your options. |
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