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Mortgage Market Update
My Mortgage Company
Seth Domnarski
Friday, November 6, 2026
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Have you checked your home's equity lately? |
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When you buy a home, you're not just paying a lender back—you're building wealth. Here's what you need to know about tapping into it.
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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 & Options
You may have built more equity than you think
If you've owned your home for a few years, or made a larger down payment, there's a good chance you've accumulated equity—that's the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. It can open doors: you might refinance to a better rate, tap it for a major expense or home improvement, or use it to avoid mortgage insurance if you didn't have enough down initially. The first step is understanding how much you actually have. Home values shift, and so do your payment balances. I'd be happy to walk through where you stand and what options that might create for you. Let's talk about your home's equity and what it means for your next move.
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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
Seth Domnarski
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