Gigi Prieto · November 6, 2026

What's your home actually worth to you?

Mortgage Market Update

My Mortgage Company

Gigi Prieto

Friday, November 6, 2026

What's your home actually worth to you?

One of the best things about being a homeowner is that your payments build wealth over time. This week, I want to talk about one of the most overlooked tools at your disposal.

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Rate trend

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.


Home Equity

Your home is building wealth—here's how to tap it

If you've owned your home for a while, you've likely built equity—the difference between what your home is worth and what you still owe. That equity is real wealth, and depending on your situation, it can be accessed through a refinance, a home equity line of credit, or a home equity loan. People use it for everything: repairs, consolidating debt, funding education, or investing in another property. The key is understanding what makes sense for your financial picture. Rates and terms vary depending on which tool you choose, and timing matters. If you're curious whether you have equity to work with or whether tapping it makes sense for your goals, I'd be happy to walk through your options.

Reach out if you'd like to explore whether your home's equity could work for you.

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

M

My Mortgage Company

Gigi Prieto

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