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Mortgage Market Update
My Mortgage Company
Kailey Pukini
Friday, November 6, 2026
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Why paying off your mortgage faster isn't always the move |
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I work with borrowers who think a lot about their mortgage. This week, I want to clear up something that comes up often.
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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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Building Wealth
Why your mortgage is different from other debt
People often ask me whether they should pay off their mortgage faster or invest elsewhere. The truth is, a mortgage works differently than credit cards or car loans. As you make payments, you're building equity in an asset that typically grows in value over time. That's wealth building—not just debt repayment. Understanding this distinction can help you make smarter decisions about your money. Some borrowers benefit from paying extra toward principal; others find more flexibility by keeping cash on hand for emergencies or opportunities. There's no one-size-fits-all answer, but knowing how your mortgage serves your overall financial picture is the first step. I'd love to walk through what makes sense for your situation. Let's talk about your mortgage and your goals.
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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
Kailey Pukini
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