Mortgage Market Update

My Mortgage Company

Anna Lim Real Estate

Friday, November 6, 2026

What your home equity can actually do for you

Hi there. One of the best parts of owning a home is building wealth through it—and that wealth might be more useful than you realize.

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Equity & Access

Your home equity might unlock more than you think

As a homeowner, you've likely built up equity over time—that's the difference between what your home is worth and what you still owe. Many people don't realize this equity can be a financial tool. Whether you're facing unexpected expenses, planning a renovation, or thinking about consolidating debt, understanding what your equity means and how to access it is important. There are several ways to tap into it, each with different terms and trade-offs. The right choice depends on your situation, timeline, and goals. If you're curious whether your equity could work for you right now, I'd be happy to walk through your options and what might make sense.

Let's talk about whether your equity can help you reach your next goal.

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.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.	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.

2.	Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Anna Lim Real Estate

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