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Mortgage Market Update
My Mortgage Company
Simply Laundry
Friday, November 6, 2026
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How much equity do you have now? |
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One of the best parts of homeownership is that your monthly payment is doing double duty. I wanted to walk you through how that works and why it matters.
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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
Your home is quietly working for you
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 equity can become real money you can access if you need it. Some people tap into home equity to cover major expenses, fund renovations, or consolidate debt. Others just let it grow. Either way, understanding what you've built is worth a conversation. If you've owned your home for a few years or paid down a meaningful amount, there's a good chance you have more options available than you realize. I'd like to sit down with you and show you exactly where you stand—no pressure, just clarity. Knowing your equity position helps you make smarter decisions about your money. Let's talk about what your home has built 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
Simply Laundry
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