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Mortgage Market Update
Karen Cely Chavez
Karen Cely Chavez
Friday, November 6, 2026
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What can you actually do with your home's equity? |
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Every month you own your home, you're building real wealth. I wanted to share a few ways that equity can work for you.
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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's equity can actually do for you
As a homeowner, you're building equity every month—through your mortgage payments and, often, through your home's value. That equity isn't just a number on paper; it's a financial tool you can access when you need it. Whether you're facing an unexpected expense, planning a major home improvement, or looking to lower your monthly payment, understanding your options matters. Some borrowers don't realize how much flexibility they have. I'd encourage you to think of your home not just as a place to live, but as part of your overall financial picture. If you're curious whether tapping into your equity makes sense for your situation right now, I'm here to walk you through what's realistic for you. Let's talk about whether a refinance or equity option fits your goals.
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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 Karen Cely Chavez team any time and we'll walk you through your options. |
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