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Mortgage Market Update
My Mortgage Company
Ron Succarotte — Ronald Angelo Succarotte
Friday, November 6, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to talk about something a lot of homeowners overlook—the wealth that's already building in the home you own.
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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 & Refinancing
The equity in your home might be worth more than you think
If you've owned your home for a few years, you may have built up meaningful equity without even realizing it. That equity can be a real financial tool—whether you're thinking about refinancing into better loan terms, funding a home improvement, or covering other expenses. The tricky part is knowing what you actually have to work with. Home values shift, and so does what lenders will let you borrow against. A straightforward conversation about your equity can open up options you didn't know existed. If you're curious whether a refinance or home equity move makes sense for your situation, I'd be happy to walk through the numbers with you. Let's take a look at what your equity position is and what it could do 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
Ron Succarotte — Ronald Angelo Succarotte
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