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Mortgage Market Update
Rita Rehana
Rita Rehana
Friday, November 6, 2026
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Do you know how much home equity you have? |
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I work with a lot of homeowners who are surprised when they learn how much their home has appreciated. Today I want to walk you through why that matters.
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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
Your home may be worth more than you think
If you've owned your home for a few years, or bought before rates climbed, there's a good chance you've built equity—sometimes more than you realize. Equity is the difference between what your home is worth and what you still owe on your mortgage. It matters because it opens doors: you can tap it to cover major expenses, consolidate debt, or fund renovations that add value back to your home. The first step is understanding how much equity you actually have. A quick conversation can help you see what's possible and whether it makes sense for your situation right now. Let's talk about what equity you might have available and what it could 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 Rita Rehana team any time and we'll walk you through your options. |
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