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Mortgage Market Update
My Mortgage Company
Josh Nastal
Friday, November 6, 2026
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What's your equity actually worth? |
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Hi there. I want to walk you through something that changes the math for a lot of homeowners: the equity you've already built.
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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 & Refinancing
Your home's equity: what it means for your options
As you pay down your mortgage, you build equity—that's the difference between what your home is worth and what you still owe. Equity matters more than most people realize. It can open doors: a cash-out refinance lets you borrow against it for home improvements, debt payoff, or life expenses. It also improves your position if you ever need to sell or move. The amount of equity you have right now, combined with current rates and loan programs, shapes what options make sense for you. If you've been in your home a while or made improvements, you might have more equity than you think. It's worth a conversation to understand what's actually sitting in your property and whether any of those doors are worth opening. Let's talk about what your equity could do for you—reach out whenever you're curious.
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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
Josh Nastal
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