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Mortgage Market Update
My Mortgage Company
Troy Brakefield
Friday, November 6, 2026
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What your home equity means for you |
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Hi there—I'm sharing ideas on money moves that matter to homeowners. This week, we're talking about one of the best features of home ownership.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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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.
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Home Equity
Your home is building wealth for you
One of the biggest advantages of owning a home is that every mortgage payment chips away at what you owe and builds your equity—the difference between what your home is worth and what you still owe on it. Over time, this becomes real wealth. The sooner you understand how much equity you have, the more options open up: you might tap into it for a major expense, consolidate debt, or make a smart move on a second property. I can help you figure out where you stand and what's possible from here. There's no cost to explore your options, and it only takes a few minutes to get clarity. Let's talk about your equity and what you can do with it.
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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
Troy Brakefield
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