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Mortgage Market Update
My Mortgage Company
Spencer Javier
Friday, November 6, 2026
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Your equity might be more useful than you think |
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A lot of homeowners don't realize how much financial power they've built into their homes. This week, let's talk about what you can do with it.
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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 & Access
Your home equity is a tool—here's how
As a homeowner, you're building equity with every payment. Over time, that equity can become real financial flexibility. Whether you've owned your home for years or just a few, you may be able to tap that equity through refinancing or a home equity line of credit. It's not about overspending—it's about having options when life happens. A new roof, a child's education, consolidating higher-rate debt, or starting a project: equity lets you borrow against what you've already built in your home, often at favorable terms. The key is understanding what makes sense for your situation and your timeline. If you're curious whether your equity could work for you, I'd love to walk through the options. Reach out and we can talk through what your equity means for you.
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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
Spencer Javier
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