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Mortgage Market Update
My Mortgage Company
Capital – Barrett
Friday, November 6, 2026
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What's your home worth today? |
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Hello! This week I want to walk you through something that often surprises homeowners—how much of their home they actually own.
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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 Check
You might have more home equity than you think
If you bought a few years ago or made extra payments toward your mortgage, there's a good chance your home has built up equity—the difference between what your home is worth and what you still owe. That equity can be useful. Some people tap into it with a home equity line of credit or loan to pay for repairs, education, or consolidate other debt. Others simply find comfort knowing they own more of their home than they did before. The catch is you won't know what you're working with unless you get a rough sense of your home's current value. It's worth a conversation to understand your options and whether accessing any of that equity makes sense for your goals right now. If you'd like to talk through what your equity position might look like, I'm here to help.
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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
Capital – Barrett
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