Marc Pitcher · November 6, 2026

Your home is quietly building wealth

Mortgage Market Update

My Mortgage Company

Marc Pitcher

Friday, November 6, 2026

Your home is quietly building wealth

Hi there. Each month, your mortgage payment is doing more than you might realize. I wanted to share how that works—and why it matters.

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

The equity you're building right now

Every mortgage payment you make does two things: it pays interest to your lender, and it builds equity in your home. Early on, more of that payment goes toward interest. But as time passes, the balance shifts—more of each payment goes straight into your pocket as home equity. That's real wealth accumulating. The longer you stay in your home, the more equity you build, which opens doors down the road: it can help you refinance, take out a home equity line for major expenses, or simply give you more flexibility in your finances. If you're curious about how much equity you might have built so far, or want to understand how your loan is working for you over time, I'd be happy to walk through the numbers with you.

Let's talk about your equity position and what options it might create for you.

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 My Mortgage Company team any time and we'll walk you through your options.

Your Mortgage Advisor

M

My Mortgage Company

Marc Pitcher

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