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Mortgage Market Update
Brandy Feast
Brandy Feast
Friday, November 6, 2026
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How much equity are you building right now? |
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One of the best parts of owning a home isn't the kitchen or the yard—it's the equity you're building with every payment. Let me explain what that really means for your future.
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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
You're building wealth every month—here's how
Every mortgage payment you make does two things: some goes toward interest, and some goes toward principal. That principal portion? That's real equity in your home—money you're building toward ownership. Over time, as you pay down your loan, that equity grows. It's one of the reasons homeownership builds wealth in a way renting doesn't. The faster you pay down principal, the more equity you accumulate. Understanding this can help you make smarter choices about your loan—whether that's a standard 30-year mortgage, a shorter term, or even extra payments when you can swing them. Your equity is yours to keep, and it can open doors down the road if you need to borrow against it or refinance. I'd love to walk you through how your specific loan builds equity over time.
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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 Brandy Feast team any time and we'll walk you through your options. |
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