Paul Jaimes · November 6, 2026

How much equity have you built so far?

Mortgage Market Update

Paul Jaimes

Paul Jaimes

Friday, November 6, 2026

How much equity have you built so far?

Hi there. As we head deeper into fall, I want to remind you of something that's been quietly working in your favor since day one of homeownership.

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Rate trend

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.


Equity Building

Your home is working for you every month

Every mortgage payment you make builds equity—that's the portion of your home's value that belongs to you. Over time, as you pay down your loan balance, your equity grows. This matters because equity is real wealth you can tap into later if you need it, whether through a home equity line of credit, a cash-out refinance, or simply as a cushion in your net worth. The longer you own your home, the faster this happens. If you've been in your home for a few years, you may have built up more equity than you realize. Knowing what you have available can open doors when life calls for it—whether that's home improvements, education costs, or other goals.

If you'd like to explore what your equity might be worth today, I'd be happy to walk you through it.

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 Paul Jaimes team any time and we'll walk you through your options.

Your Mortgage Advisor

P

Paul Jaimes

Paul Jaimes

paul@greatmortgage.com

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