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Mortgage Market Update
My Mortgage Company
Jason Grantham
Friday, November 6, 2026
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Your mortgage is building wealth—here's how |
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One of the best-kept secrets about homeownership is how steadily it builds your net worth. I wanted to explain what's actually happening behind the scenes.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
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 Building
How your monthly payment works for you
Every mortgage payment you make splits into two parts: one pays down your loan balance, the other covers interest. Early on, more goes toward interest. But as time passes, you build equity faster than you might realize. That equity is real wealth—it's yours to tap into if you need it, or to keep building toward your next goal. Understanding this split isn't just about numbers; it's about recognizing that homeownership is an investment that works quietly in your favor month after month. If you'd like to see exactly how your payments break down, I'm here to walk through it. Let's talk about how your equity is growing.
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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
Jason Grantham
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