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Mortgage Market Update
Patrick Culleton
Patrick Culleton
Friday, November 6, 2026
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What's your home equity worth right now? |
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I talk a lot about rates and payments—but there's another side of homeownership that matters just as much. Let me explain what I mean.
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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
Your home's value might open new doors
Over time, your home builds equity—the difference between what it's worth and what you owe. That equity can become a real tool if you need it. Some borrowers use it to refinance into better loan terms, consolidate debt, or fund home improvements. Others leave it untouched and keep building. The right move depends on your situation: how much equity you have, what rates look like now, and what you actually need the money for. It's worth knowing what's possible, even if you decide to do nothing today. If you're curious whether your home's equity could work for you, I'm happy to walk through your options.
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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 Patrick Culleton team any time and we'll walk you through your options. |
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