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Mortgage Market Update
My Mortgage Company
Peter Spinella
Friday, November 6, 2026
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How much equity have you built? |
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Hi there. Every month, your mortgage payment does more than cover interest—it's building real wealth in your home. Here's why that matters to you.
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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 working—even when you're not thinking about it
Every payment you make builds equity in your home. It's one of the quietest wealth-builders out there, and it happens automatically. As you pay down your loan balance and your home holds or gains value, that equity grows—and it's yours to tap if you ever need it. Some borrowers forget they have this resource available. Whether you're thinking about a major home project, consolidating debt, or just want to know where you stand, understanding your equity position is smart money management. If you haven't checked your home's current value or calculated your equity in a while, now's a good time. I'm happy to give you a clear picture of what you've built so far. Let's talk about your equity and what options might make sense for your situation.
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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
Peter Spinella
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