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Mortgage Market Update
Joshua Switzer
Joshua Switzer
Friday, November 6, 2026
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Your home's equity—what can you actually do with it |
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One of the biggest financial advantages of homeownership is building equity over time. But many homeowners aren't sure what that equity means or how to use it.
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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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Home Equity
What your home's equity can actually do for you
If you've owned your home for a while, you've likely built up equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. It can be a real financial tool when you need it: a way to fund home repairs, consolidate debt, or handle an unexpected expense. The trick is knowing when accessing it makes sense and which option fits your situation. Whether you're thinking about a home equity loan, a line of credit, or a cash-out refinance, each one works differently and carries its own costs. Understanding what you have available and what it would actually cost you is the first step to using your equity wisely—or deciding not to. I'm happy to walk through your options and help you figure out if tapping into your equity is the right move. Let's talk about whether your equity could work for you right now.
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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 Joshua Switzer team any time and we'll walk you through your options. |
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