Mortgage Market Update

Johnathan Lee

Friday, November 6, 2026

What can you do with your home equity?

Hi there. This week I want to walk you through something many homeowners overlook: the real-world value of the equity they've built.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Equity & Access

What your home equity can actually do for you

As you pay down your mortgage, you build equity—the difference between what your home is worth and what you still owe. Many homeowners don't realize this equity can be a tool. Whether you're thinking about a major home repair, paying off high-interest debt, or funding a big life goal, there are loan options designed to let you tap into that equity without selling your home. The right choice depends on your timeline, how much you need, and your comfort level with different loan structures. I've helped plenty of borrowers understand what makes sense for their situation, and I'd like to do the same for you.

If you're curious whether your equity could work for you, let's talk through your options.

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.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.	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.

2.	Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Johnathan Lee team any time and we'll walk you through your options.

Your Mortgage Advisor

Johnathan Lee

jlee@power-lending.com

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