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Mortgage Market Update
My Mortgage Company
Fernando Radillo
Friday, November 6, 2026
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What your home equity can do for you |
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One of the best parts of homeownership is watching your equity grow over time. Here's why you should pay attention to 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 & Access
Your home equity could unlock more options
If you've owned your home for a few years, you likely have built up equity—the difference between what your home is worth and what you still owe. That equity isn't just paper wealth; it can be a real tool for your finances. Some borrowers tap into it to consolidate debt, fund home improvements, or handle unexpected expenses. Others use it to refinance into better loan terms. The equity you've built is yours, and it's worth understanding what it means for your future. If you're curious whether your situation could benefit from exploring these options, I'd be happy to walk through what's possible. Let's talk about what your equity means 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
Fernando Radillo
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