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Mortgage Market Update
Kaelan Cheatham
Kaelan Cheatham
Friday, November 6, 2026
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How much equity have you built so far? |
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One of the best parts of owning a home often goes unnoticed month to month. I want to make sure you're thinking about it the right way.
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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 Building
Your home is working for you every month
A lot of people focus on their monthly payment and lose sight of what's actually happening underneath: with each payment you make, you're building ownership stake in your home. That's equity, and it's one of the most powerful wealth-building tools available to homeowners. The more you understand how your loan structure affects how fast equity builds, the better decisions you can make about your financial future. Whether you're early in your mortgage or thinking about what comes next, knowing where you stand with equity opens up real options—from home improvements to accessing funds down the road. If you've never taken a close look at how much equity you've built, or if you're curious about how different mortgage choices would change that trajectory, I'd love to walk through it with you. Let's talk about your equity position and what it means for 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 Kaelan Cheatham team any time and we'll walk you through your options. |
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