Mortgage Market Update

Kristen Williams

Friday, November 6, 2026

How much equity have you built?

One of the best-kept secrets about homeownership is how automatically you build wealth just by making your mortgage payment each month. Here's what's actually happening:

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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 Building

How your mortgage payments are working for you

Every payment you make builds equity—the difference between what your home is worth and what you owe. Early on, most of your payment goes toward interest, but that changes over time. The longer you own, the faster equity grows. This matters because equity is real wealth you can borrow against later, use to upgrade, or carry into your next chapter. If you've been in your home for a few years, you might be surprised how much equity you've already built. Understanding this can help you make smarter decisions about refinancing, home improvements, or planning ahead.

Let me show you where your equity stands and what options might be available to you.

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 Kristen Williams team any time and we'll walk you through your options.

Your Mortgage Advisor

Kristen Williams

kristen.williams@edgehomefinance.com

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