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Mortgage Market Update
My Mortgage Company
Jaclyn Richards
Friday, November 6, 2026
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What your home equity could do for you |
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Good morning. This week I want to talk about something many homeowners overlook—the real wealth they've already built.
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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 & Refinancing
Your home's worth might be doing more than you think
If you've owned your home for a few years, you likely have built equity—the difference between what your home is worth and what you owe on your mortgage. That equity can be a real financial tool. Some homeowners tap it to pay off high-interest debt, fund home improvements, or cover major expenses. Others refinance into better loan terms if rates or their credit score have moved in their favor. The key is understanding what you actually have to work with. A quick conversation about your home's current value and your loan balance can reveal options you didn't know existed. I'm here to walk you through what makes sense for your situation. Let's take a look at your equity and talk through your options.
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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
Jaclyn Richards
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