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Mortgage Market Update
My Mortgage Company
Jerry Siegel
Friday, November 6, 2026
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Have you checked your home equity lately? |
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I work with borrowers at every stage of homeownership. One thing I notice is that many don't fully appreciate the equity they're building with every payment.
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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 Building
Your home is working for you even when you sleep
Every mortgage payment you make does two things: it pays down what you owe and builds equity in your home. Over time, that equity becomes real wealth—money you own outright. Some borrowers don't realize how much equity they've accumulated, or how they might use it. Whether you're thinking about tapping into it for a major expense, consolidating debt, or just curious where you stand, knowing your equity position is the first step. It's one of the most overlooked advantages of homeownership. I'd love to help you understand what you've built so far and what your options might be. Get in touch and let's talk about your equity.
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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
Jerry Siegel
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