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Mortgage Market Update
My Mortgage Company
FLO Mortgage NMLS 1835856
Friday, November 6, 2026
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How much equity are you sitting on? |
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Home ownership builds wealth quietly in the background. Here's how to see what you've actually got.
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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
You might have more home equity than you think
Every mortgage payment you make builds equity—it's one of the most powerful wealth-building tools available to homeowners. As you pay down your loan balance and your home's value changes, that equity can open doors: from refinancing options to lines of credit to future moves. The tricky part is knowing what you actually have. Property values shift, payoff progress isn't always obvious from your monthly statement, and life circumstances change how you might want to use it. If you've owned your home for a while, it's worth getting a clear picture of where you stand. Understanding your equity position helps you make smarter decisions about when and how to tap into it—or when to hold steady. I'd love to walk you through it. Reach out anytime to discuss what your equity might mean for your goals.
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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
FLO Mortgage NMLS 1835856
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