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Mortgage Market Update
My Mortgage Company
RAL Program
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 that often flies under the radar: the equity sitting in your home right now, and what it could mean for your financial flexibility.
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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
What your home equity means right now
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. That equity can be a powerful tool. Some borrowers use it to refinance into better loan terms, others tap it to fund renovations or consolidate debt. The key is understanding what you have and whether using it makes sense for your goals. Interest rates, your loan terms, and your timeline all factor into the decision. There's no one-size-fits-all answer, which is why it helps to talk through your specific situation with someone who can run real numbers for you. If you'd like to explore what your equity could do for you, I'm here to walk through the 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 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
RAL Program
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