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Mortgage Market Update
James Schneider James Schneider
James Schneider
Friday, October 23, 2026
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How much equity are you sitting on? |
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Hi there — this week I want to talk about something that's quietly working in your favor as a homeowner.
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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 & Options
Your home equity might be worth more than you think
A lot of people don't realize how much equity they've built over time — especially if you've been in your home for a few years and paid down your mortgage. That equity is real money you own, and it can open doors: refinancing options, home improvement projects, or even covering unexpected expenses without tapping high-interest credit cards. The equity you've built is one of your strongest financial tools, and it's worth understanding what you have available to you. If you've been meaning to check what options might make sense for your situation, now's a good time to take that step. Reach out anytime you'd like to talk through what your equity could do 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 James Schneider James Schneider team any time and we'll walk you through your options. |
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