Bowen Belmer · November 6, 2026

How much equity do you have right now?

Mortgage Market Update

Bowen Belmer

Bowen Belmer

Friday, November 6, 2026

How much equity do you have right now?

Hi there—this week I want to talk about something that's easy to overlook but incredibly powerful for homeowners. Your home is quietly building your wealth, and you should know the details.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Rate trend

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.


Equity Building

Your home is working for you—here's how

Every mortgage payment you make builds equity in your home. That's real wealth accumulating over time, separate from any change in your home's market value. The sooner you understand how much equity you have, the more options open up to you—whether that's a cash-out refinance to fund renovations, a home equity line of credit for emergencies, or simply knowing your net worth is growing.

If you've been in your home for a few years, you might be surprised at how much equity you've built. I encourage homeowners to check in on this at least once a year. It's a good reminder that your mortgage isn't just an expense—it's an investment in your future. Ready to find out where you stand?

Let me help you get a clear picture of your home's equity and what you can do with it.

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.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.

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.

2.

Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.

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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Bowen Belmer team any time and we'll walk you through your options.

Your Mortgage Advisor

B

Bowen Belmer

Bowen Belmer

bowen@barrettfinancial.com

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