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Mortgage Market Update
Matt Orange
Matt Orange
Friday, November 6, 2026
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How much equity do you actually own? |
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Homeownership is a powerful wealth-building tool, but many people don't pay attention to one of its biggest benefits. Let me explain what's happening in your favor every single month.
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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
The money you're building in your home, explained
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this grows into real wealth. The faster your balance drops, the more equity you own outright. It matters because equity can open doors: you may be able to tap into it for major expenses, use it toward a down payment on another property, or simply enjoy peace of mind knowing you're building something tangible. The sooner you understand how much equity you have and how it's growing, the better decisions you can make about your financial future. I'd be happy to walk you through your equity position and talk about what it means for your goals.
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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 Matt Orange team any time and we'll walk you through your options. |
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