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Mortgage Market Update
My Mortgage Company
Robie Chapa's Team
Friday, November 6, 2026
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Do you know how much equity you have? |
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Every mortgage payment you make builds ownership. Here's what that means for you.
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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's value is working for you
If you've owned your home for a while, you likely have equity built up—the difference between what your home is worth and what you owe on it. That equity is real money, and it opens doors. Some borrowers tap into it for major expenses, home improvements, or consolidating debt. Others leave it alone and that's fine too. The point is understanding what you have available to you, and knowing your options means making smarter decisions when life happens. Whether you're curious about what your equity could do or just want to understand your position better, I'm here to walk you through it without pressure. Let's talk about your home's equity and what makes sense 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 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
Robie Chapa's Team
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