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Mortgage Market Update
My Mortgage Company
Capital – Barrett
Friday, November 6, 2026
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How much equity are you sitting on? |
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One of the quietest wins of homeownership is how quickly your equity grows. Here's what you should know about 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 Building
What your home is actually worth to you
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. It's one of the most powerful wealth-building tools available, and a lot of homeowners don't realize how much they've already built up. If you've owned your home for a few years, you might have more equity than you think. That equity can open doors: it can qualify you for a cash-out refinance, a home equity line of credit, or help you upgrade to a different property without starting from scratch. The best part? You're building it automatically, month after month. If you're curious about how much equity you've accumulated or what options that might unlock for you, I'd love to walk through the numbers with you. Send me a message and we can talk through what your current equity position looks like.
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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
Capital – Barrett
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