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Mortgage Market Update
My Mortgage Company
Seth Domnarski
Friday, November 6, 2026
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How much equity do you have right now? |
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Hi there, I hope things are going well. This week I want to talk about something that builds quietly in the background of homeownership—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 can be a real tool
One of the best parts of owning a home is that every mortgage payment builds equity—the difference between what your home is worth and what you owe. Over time, that equity grows, and it can become a resource if you need it. Some homeowners tap into their equity through a cash-out refinance or a home equity line of credit to pay for repairs, education, or other major expenses. Others simply let it grow as a nest egg. The key is knowing what you have and understanding your options before you need them. If you've been in your home for a while, you may have more equity than you realize. It's worth a conversation. If you'd like to talk through what your equity might look like and what you could do with it, I'm here to walk you through it.
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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 Domnarski
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