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Mortgage Market Update
Brandt Myers
Brandt Myers
Friday, November 6, 2026
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Do you know how much equity you've built? |
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Every homeowner's situation is different, and understanding your own financial picture is the first step to making smart moves. This week I want to highlight something powerful that's been working in your favor all along.
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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
Your mortgage is making you wealthier every month
Here's something that often goes unnoticed: every payment you make builds equity in your home. Unlike rent, your money is going toward something you own. As time passes and you pay down your loan balance, that equity grows—and it can become a real financial asset when you need it. Whether you're thinking about a home improvement, handling an unexpected expense, or planning ahead, knowing what you've built gives you options. If you've owned your home for a few years, you may have more equity than you realize. I'd be happy to give you a clear picture of where you stand. Let's talk about what your equity position looks like and what it could mean for your situation.
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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 Brandt Myers team any time and we'll walk you through your options. |
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