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Mortgage Market Update
My Mortgage Company
Capital Mortgage Source - Salem
Friday, November 6, 2026
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The equity sitting in your home right now |
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Hi there. I want to tell you about one of the most valuable assets many homeowners overlook—and how you might put it to work.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
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's equity is real money you can use
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 on your mortgage. That equity isn't just a number on paper. You can access it through a home equity loan, line of credit, or cash-out refinance to pay for repairs, consolidate debt, cover education costs, or handle a major life expense. The key is understanding which option fits your situation and your budget. If you're curious whether tapping your equity makes sense, I'm happy to walk through the numbers with you and show you what's realistic. Let's talk about whether accessing your home's equity could work for your plans.
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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
Capital Mortgage Source - Salem
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