Michael Fahey · November 6, 2026

What your home's value could do for you

Mortgage Market Update

My Mortgage Company

Michael Fahey

Friday, November 6, 2026

What your home's value could do for you

Most homeowners have no idea how much equity they've built. Here's why it matters.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Rate trend

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.


Home Equity

Your home equity could be worth a conversation

If you've owned your home for a few years, or bought when prices were lower, you might have built up meaningful equity without realizing it. That equity can be tapped for home improvements, debt consolidation, education costs, or other goals—through a cash-out refinance, home equity loan, or line of credit. The right choice depends on your timeline, how much you need, and what works with your budget. I've helped plenty of borrowers unlock equity they didn't know they had, and it often opens doors they thought were closed. If you're curious whether your home's value has moved or what borrowing against your equity might look like, I'd be glad to walk through your options with no pressure.

Reach out if you'd like to explore what your home equity means for you.

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 My Mortgage Company team any time and we'll walk you through your options.

Your Mortgage Advisor

M

My Mortgage Company

Michael Fahey

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