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Mortgage Market Update
My Mortgage Company
Andy Zamora
Friday, November 6, 2026
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What your home equity could do for you |
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Hi there—I want to touch on something that many homeowners overlook but shouldn't. If you've been in your home for any time at all, there's a good chance you've built up meaningful equity.
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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's value is working for you
If you've owned your home for a while, you may have 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's a real financial resource. Some borrowers tap into it through a cash-out refinance or a home equity line of credit to fund home improvements, consolidate debt, or cover major expenses. Whether that makes sense depends on your situation, your goals, and where rates are. The key is understanding that you have options, and I'm here to help you weigh them clearly. If you're curious about what your home's equity position looks like and what doors it might open, let's talk. Reach out and we can review your equity and explore what might work 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
Andy Zamora
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