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Mortgage Market Update
My Mortgage Company
Zach Schaphorst
Friday, November 6, 2026
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Your home is building something valuable |
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Here's something I see all the time: homeowners who have no idea how much equity they've actually built. Let me explain why that 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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Home Equity
What your home's value means for your finances
If you've owned your home for a few years, you've likely built equity—the difference between what your home is worth and what you still owe on your mortgage. That equity is real wealth sitting in your property, and it can work for you in different ways: it improves your financial cushion, it can lower your loan-to-value ratio if you refinance, and it opens doors to borrowing options if life throws an unexpected cost your way. The tricky part is that most people don't check their equity unless they're already thinking about selling or refinancing. A quick conversation about where you stand can help you understand your actual financial picture and what options might make sense for your situation. Let's talk about what your home equity means for you—reach out anytime.
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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
Zach Schaphorst
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