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Mortgage Market Update
My Mortgage Company
Daniel DePascal
Friday, November 6, 2026
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What's your home's equity worth to you? |
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Hi there. I'm sharing thoughts on a tool that a lot of homeowners have but don't always think about using.
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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 & Options
Your home's equity might open doors you didn't know about
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. That equity can be a real financial tool. Some homeowners use it to fund home improvements, pay off other debt, or cover major expenses. Others keep building it as a safety net. The programs available to tap that equity have different pros and cons, and they work best in different situations. The right choice depends on your goals, your timeline, and your comfort level. I'd be happy to walk through what options might make sense for your specific situation—no pressure, just information. Let's talk about whether your equity can work for you right now.
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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
Daniel DePascal
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