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Mortgage Market Update
Aaron Perkins
Friday, November 6, 2026
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How much equity are you sitting on? |
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Hi there. This week I want to remind you of something that's quietly working in your favor.
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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
Your mortgage is working harder than you think
Every payment you make builds equity in your home—the difference between what your house is worth and what you owe. Over time, this becomes real wealth. But many homeowners don't realize how much equity they've already accumulated, or how they might use it. Whether you're thinking about a home improvement, consolidating debt, or simply want to understand your financial position better, knowing your equity is the first step. The sooner you get a clear picture, the sooner you can decide what makes sense for your situation. Let's talk about what your equity means for your next move.
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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 Aaron Perkins team any time and we'll walk you through your options. |
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