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Mortgage Market Update
My Mortgage Company
Lynn Berry — Ryan Berry
Friday, November 6, 2026
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Got equity in your home? Here's why it matters |
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Every payment you make builds your ownership stake in your home. Let's talk about what that means for you.
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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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Home Equity
What your home's equity means for you
If you've owned your home for a while, you've probably built up equity—the difference between what your home is worth and what you still owe on the mortgage. That equity is real money, and it opens up options. Some people use it to refinance into better terms. Others tap it for home improvements or major expenses. The key is understanding what you have and what makes sense for your situation. The amount of equity you've built depends on your down payment, how long you've been paying the mortgage, and your home's value. Before you make any moves, it's worth having a conversation about your options and what works for your goals. If you'd like to talk through what your equity means for your next move, I'm here to help.
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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
Lynn Berry — Ryan Berry
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