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Mortgage Market Update
My Mortgage Company
Austen Smith
Friday, November 6, 2026
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What's your home equity worth right now? |
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Hello,
Every month you make a mortgage payment, you're building something valuable. Here's how to make the most of 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 Strategy
Your home equity is working—are you?
If you've owned your home for a few years, you likely have equity built up. That's real money sitting in your property, and there are smart ways to put it to work for you. Whether you're thinking about a major home project, managing other debt, or planning ahead, understanding your options—from home equity loans to lines of credit to refinancing—gives you flexibility when life happens. The key is knowing what you have and what makes sense for your situation. I'd love to walk you through the possibilities and help you figure out a strategy that works for your goals. Let's talk about what your equity can do for 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
Austen Smith
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