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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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Each week, I share what's happening in the mortgage world and how it affects the decisions you're making about 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 working for you every month
Here's something that might surprise you: every time you make a regular mortgage payment, part of that money goes toward building ownership in your home. That's equity—the difference between what your home is worth and what you still owe. It's one of the most powerful wealth-building tools available to homeowners, and it happens automatically. The longer you stay in your home, the more equity you accumulate. Some borrowers don't realize they can tap into this equity later for major expenses, home improvements, or other financial goals through refinancing or a home equity line. If you're curious about how much equity you may have built up, or want to explore what that might mean for your future, I'd love to walk you through it. Let's talk about your equity position 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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