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Mortgage Market Update
Arturo Solis
Arturo Solis
Friday, November 6, 2026
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Your home's equity can work harder |
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I'm thinking this week about homeowners who've been paying their mortgage for years and aren't sure what to do with the equity they've built. Here's what you should know.
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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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Equity & Cash
What your home equity can actually do for you
If you've been in your home for a few years, you likely have equity built up—the difference between what your house is worth and what you still owe. Many homeowners don't realize how useful that equity can be. Whether you're thinking about a home improvement project, paying off higher-interest debt, or funding a major life expense, a cash-out refinance or home equity line lets you tap that built-up value at favorable rates. It's not borrowed money; it's your own equity working for you. The key is understanding whether it makes sense for your situation—that depends on your goals, timeline, and what rates look like. I'd love to walk you through what options might fit your life right now. Let's talk about whether tapping your equity makes sense 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 Arturo Solis team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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Arturo Solis
Arturo Solis
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