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Mortgage Market Update
Eric Painter
Eric Painter
Friday, November 6, 2026
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Do you know how much equity you have? |
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Home equity is one of the most overlooked financial tools homeowners have. Let me break down why it 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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Home Equity
What your home's value means for your wallet
If you've owned your home for a few years, you've likely built up equity—the difference between what your home is worth and what you still owe on your mortgage. That equity is real money, and it can work for you in several ways: it can lower your monthly payment through a refinance, become a line of credit for expenses or improvements, or simply keep building as you pay down your loan. The key is understanding how much equity you have and what makes sense for your situation. I'd be happy to walk through your options—no pressure, just clarity on what's actually available to you. Let's talk about your home's value and what it could mean for you.
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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 Eric Painter team any time and we'll walk you through your options. |
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