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Mortgage Market Update
Kurt Kessler
Kurt Kessler
Friday, November 6, 2026
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What your mortgage payments are really building |
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Hi there. I want to walk you through something about your mortgage that often goes unnoticed—but shouldn't.
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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 home is working for you—here's how
Every mortgage payment you make builds equity—the portion of your home you actually own. Early on, most of your payment goes toward interest, but over time, more and more goes straight into ownership. This matters because equity is real wealth. You can borrow against it if you need cash, use it to fund home improvements, or tap it when life changes. The longer you stay in your home and the more you pay down the loan, the faster your equity grows. If you've owned for a few years, you might be surprised how much you've already built. Understanding your equity position helps you make smarter decisions about your finances and your home's future. Let's talk about how much equity you have and what options it opens up for you.
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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 Kurt Kessler team any time and we'll walk you through your options. |
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