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Mortgage Market Update
My Mortgage Company
Jessica Portillo — Jessica Portillo
Friday, November 6, 2026
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How much ownership do you actually have? |
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Home ownership is about more than having a place to live. Every payment you make is an investment in your future.
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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 is working for you right now
Every month your mortgage payment builds ownership in your home. That's equity—real wealth sitting in the walls and foundation. If you've owned your home for a few years, you likely have more equity than you realize. Some borrowers tap into that equity when they need funds for major expenses, home improvements, or other financial goals. It's worth knowing what you have available and how you might use it. The best time to explore your options is before you need the money, not after. I'd be happy to walk you through what your equity picture looks like and what programs might fit your situation. Reach out anytime—let's talk about what your home's 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
Jessica Portillo — Jessica Portillo
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