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Mortgage Market Update
David Frederick
David Frederick
Friday, November 6, 2026
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Do you know how much equity you have? |
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This week I'm thinking about a resource many homeowners forget they have: the equity they've built in their homes. Here's why it might matter to you.
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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
What your home equity can do for you
If you've owned your home for a while, you likely have equity built up—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. Depending on your situation, it can be a real tool: some people use it to refinance into better loan terms, others tap it for major expenses or home improvements, and some explore it when life circumstances change. The key is understanding what makes sense for your specific goals and finances. If you're curious whether your equity could work for you, I'd be happy to walk through your options without any pressure. Let's talk about what your home equity 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 David Frederick team any time and we'll walk you through your options. |
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