Mortgage Market Update

Eric Maza

Friday, November 6, 2026

How much equity are you sitting on?

Every payment counts. Here's why understanding your equity matters—and what you can do with it.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Equity Building

Your home is working for you every month

Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. It's one of the most powerful wealth-building tools available to homeowners, and it happens automatically while you live your life. The longer you own, the more equity you accumulate, which opens doors down the road: home improvements, emergencies, or even a future purchase. If you've been a homeowner for a while, you might be surprised how much equity you've already built. Understanding that number helps you make smarter decisions about your financial future—whether that's staying put, refinancing, or planning what comes next.

Want to know how much equity you've built? I can help you figure that out.

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 Eric Maza team any time and we'll walk you through your options.

Your Mortgage Advisor

Eric Maza

emaza@canopymortgage.com

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