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Mortgage Market Update
Maggie Wells
Maggie Wells
Friday, November 6, 2026
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What to do with the equity you've built |
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Hey everyone. This week I want to talk about something that grows quietly in the background for most homeowners: equity, and the smart ways you can put it to work.
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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 an asset—here's how to use it
If you've been in your home for a few years, there's a good chance you've built up equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper; it can actually work for you. Some borrowers tap into their equity through a cash-out refinance or a home equity line when they need funds for major expenses, home improvements, or debt consolidation. Others simply let it grow as part of their long-term wealth building. The right move depends on your situation, your goals, and what makes sense for your monthly budget. If you're curious whether your equity could help you reach a specific goal—or if you just want to know where you stand—I'd love to walk through your options with you. Let's talk about what your equity might mean for your financial picture.
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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 Maggie Wells team any time and we'll walk you through your options. |
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