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Mortgage Market Update
My Mortgage Company
Bret Bushman CRM
Friday, November 6, 2026
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What your monthly payment is actually building |
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One of the best-kept secrets about owning a home is how quietly your wealth grows. I want to walk you through how that works.
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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
Why your mortgage is an investment in yourself
Every payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this grows into real wealth. It's one of the reasons homeownership matters so much: you're not just paying for shelter, you're building something you own. The sooner you understand your equity position, the sooner you can think clearly about what comes next—whether that's staying put for years, or using that equity down the road for something important like a home improvement or life change. Want to know where you stand right now? Let's talk about your equity and what it means for your financial picture.
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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
Bret Bushman CRM
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