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Mortgage Market Update
Dan Crawley
Dan Crawley
Friday, November 6, 2026
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How much equity do you have now? |
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It's easy to think of your mortgage as just a monthly bill, but it's actually a wealth-building tool. Here's why knowing your equity matters.
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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 growing—here's what it means
Every mortgage payment you make builds equity in your home. As you pay down your loan balance and your home holds (or gains) value, that equity becomes real financial cushion—money you actually own. Some borrowers are surprised to learn how much equity they've built up over just a few years, especially if their home's value has moved. That equity can open doors: it might support a refinance to better terms, enable a cash-out loan for home improvements or other goals, or simply give you peace of mind that you're building wealth. If you're curious where you stand, I'd love to pull together a quick equity snapshot for you. Let's talk about what your equity picture looks like and what options might make sense for your situation.
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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 Dan Crawley team any time and we'll walk you through your options. |
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