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Mortgage Market Update
Paige Lott
Paige Lott
Friday, November 6, 2026
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Your mortgage is actually working for you |
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Hello, I wanted to share something homeowners often overlook: how their regular mortgage payments are quietly building wealth. Let me explain.
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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 doing more than you think
Every payment you make builds equity—that's the difference between what your home is worth and what you owe. Over time, this grows into real wealth. The sooner you understand your equity position, the sooner you can make smarter decisions about it. Whether you're thinking about a major renovation, tapping into cash for something important, or just curious where you stand, knowing your equity gives you options. It's one of the most powerful advantages of homeownership, and it's quietly working for you every month. Let me give you a clear picture of your equity and what it means for your financial future.
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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 Paige Lott team any time and we'll walk you through your options. |
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