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Mortgage Market Update
Ivan Quezada
Ivan Quezada
Saturday, October 24, 2026
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What your home equity can do for you |
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Hi there—this week I'm talking about something many homeowners don't think about until they need it: the equity sitting 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 & Access
Your home equity can open doors
If you've been a homeowner for a while, you're probably building equity with every payment. That equity is real money—and it can be a powerful tool. Some borrowers tap into it through a refinance or a home equity line of credit when they need cash for major expenses, home improvements, or consolidating debt. The key is understanding your options and what makes sense for your situation. Rates and terms matter a lot here, and so does your timeline. If you're curious whether your equity could work for you, I'd love to walk through the numbers together. There's no obligation—just honest conversation about what's possible. Let me know if you'd like to explore what your equity means for your goals.
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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 Ivan Quezada team any time and we'll walk you through your options. |
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