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Mortgage Market Update
Valerie Rush
Valerie Rush
Friday, November 6, 2026
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Do you know how much equity you have? |
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Hello from the office this week. I'm thinking about all the homeowners I work with who have no idea how much equity they've built up over time.
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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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Home Equity
Your home's value might work harder for you
If you've owned your home for a few years, chances are you've built up equity—the difference between what your home is worth and what you still owe on your mortgage. That equity is real money, and depending on your situation, you may be able to tap into it. A cash-out refinance or home equity line of credit can help you pay for major expenses, consolidate debt, or make improvements to your home itself. The key is understanding which option makes sense for your goals and financial picture. If you're curious whether your equity could work for you, I'd love to walk through the possibilities. Let's talk about what your equity could do—reach out whenever you're ready.
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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 Valerie Rush team any time and we'll walk you through your options. |
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