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Mortgage Market Update
My Mortgage Company
Seth Feinman
Friday, November 6, 2026
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What your mortgage payments are actually building |
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One of the best parts of homeownership is often the quietest: every month, you're building real equity. Let me explain how it works and why it matters.
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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 an investment—here's how
Every payment you make builds equity in your home. That's money you're building toward ownership instead of sending to a landlord. As you pay down your loan balance, you own a larger piece of your property—and that ownership has real value. The longer you stay in your home, the more equity you accumulate. Understanding this can help you make smarter decisions about whether to refinance, tap into your equity later, or hold steady. I'd be glad to walk you through where you stand and what your equity could mean for your future. Get in touch if you'd like to talk about your equity position or what refinancing options might look like.
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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
Seth Feinman
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