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Mortgage Market Update
My Mortgage Company
Levelup Coaching
Friday, November 6, 2026
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How much could you borrow against your home? |
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Building equity in your home is one of the smartest financial moves you can make. But equity is only useful if you know how to access it when you need it.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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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.
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Equity & Borrowing
Your home equity is a financial tool—here's how to use it
As you pay down your mortgage, you build equity—real wealth sitting in your home. Many homeowners don't realize they can tap into that equity through a refinance or a home equity line of credit (HELOC) when they need funds for major expenses, home improvements, or life changes. The key is understanding which option fits your situation: a cash-out refinance rolls the funds into a new loan, while a HELOC works more like a credit line you draw from as needed. Both have trade-offs worth discussing. If you're wondering whether your equity could work harder for you, let's talk through your options and what makes sense for your goals. Reach out and we can review how much equity you have and what borrowing options might be available to you.
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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.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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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.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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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.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Levelup Coaching
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