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Mortgage Market Update
Brett Stratton
Barrett Financial Group
Friday, November 6, 2026
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How much equity are you sitting on? |
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Many homeowners don't realize just how much their home has worked for them over the years. This week, let's talk about equity 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 home equity is more useful than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, that equity becomes real financial flexibility. You may be able to tap into it if you need funds for home improvements, education, or other major expenses. The longer you own your home, the more equity you accumulate, which can open doors you might not realize are there. If you're curious about how much equity you've already built, or whether you might have options to use it, I'd love to walk you through it. There's no obligation—just a conversation about what's possible.
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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 Brett Stratton team any time and we'll walk you through your options. |
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2701 East Insight Way suite 150, Chandler, AZ 85286
+1 214-709-1484 | https://brettstratton.theradcrm.com/homepage
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