Deanna Parrish · November 6, 2026

Do you know how much equity you have?

Mortgage Market Update

My Mortgage Company

Deanna Parrish

Friday, November 6, 2026

Do you know how much equity you have?

I talk with homeowners all the time who are sitting on more home equity than they realize. Here's why that matters and what you might do about it.

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Rate trend

Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey

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.


Equity & Home Value

Your home equity—and what you can do with it

A lot of homeowners don't realize how much equity they've built up, or what options that opens. Whether you've been in your home for a few years or longer, you may have accumulated real wealth in the form of home equity—the difference between what your home is worth and what you still owe on it. That equity can be a powerful financial tool. You might tap into it for a major expense, a home improvement, or consolidating debt. There are several ways to access it, each with different terms and costs. The right choice depends on your situation, your timeline, and what works with your budget. If you're curious whether your equity could work for you, I'd love to walk you through your options.

Get in touch and we can talk through what makes sense for your home and your goals.

Tip of the Week

Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.

Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.

2.

Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.

Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options.

Your Mortgage Advisor

M

My Mortgage Company

Deanna Parrish

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