Yoriz Flores · November 6, 2026

Your home is working for you

Mortgage Market Update

Yoriz Flores

Yoriz Flores

Friday, November 6, 2026

Your home is working for you

One of the best things about owning a home is what happens behind the scenes—even when you're not paying attention. I wanted to share how that works.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Rate trend

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

How your mortgage works for you over time

Every payment you make builds equity in your home—that's the difference between what your home is worth and what you still owe. Early on, most of your payment goes to interest, but as time passes, more goes to principal, and your stake in the home grows. This matters because equity gives you options: you can tap it for major expenses through a home equity line, use it to refinance into better terms, or simply enjoy the peace of mind that comes with building real wealth. The longer you stay in your home, the more powerful this effect becomes. If you're curious about how much equity you might have built, or how it could work in your favor, I'd love to walk through the numbers with you.

Let's talk about your equity and what it could mean for your financial future.

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 Yoriz Flores team any time and we'll walk you through your options.

Your Mortgage Advisor

Y

Yoriz Flores

Yoriz Flores

yoriz@barrettfinancial.com

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