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Mortgage Market Update
My Mortgage Company
Lenore Myers
Friday, November 6, 2026
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How much equity are you sitting on? |
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One of the best parts of owning a home is building wealth with every payment. But I find most homeowners underestimate—or forget about—the equity they've accumulated.
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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 Building
Your home equity is more useful than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe. Most homeowners don't realize how much they've built up, or what they can do with it. Whether you're thinking about a major repair, funding education, or consolidating debt, your equity can be a real financial tool. The sooner you understand how much you have and what your options are, the better decisions you can make. If you've owned your home for a few years, there's a good chance you have more equity than you realize. I'd love to walk you through what you've built and explore what might make sense for your situation. Let's talk about your equity and what it could mean for you.
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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
Lenore Myers
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