Mortgage Market Update

Sabrina Richardson

Friday, November 6, 2026

Do you know how much equity you've built?

Hi there. I spend a lot of time talking with homeowners who are surprised to learn how much their home has appreciated since they bought.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Equity Check

Your home may be worth more than you think

If you bought a few years ago or made improvements to your home, there's a good chance you've built equity without even trying. Equity is the difference between what your home is worth today and what you still owe on your mortgage—and it's one of your most valuable financial tools.

Why does this matter? Equity can be tapped for major expenses, used to refinance into better loan terms, or rolled into your next home purchase. The tricky part is knowing what your home is actually worth. A quick conversation with me can help you understand where you stand, whether refinancing makes sense, or if you're sitting on an opportunity you didn't realize. There's no cost to explore it.

Let's talk about what your equity could mean for your financial goals.

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.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.	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.

2.	Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Sabrina Richardson team any time and we'll walk you through your options.

Your Mortgage Advisor

Sabrina Richardson

sabrina@barrettfinancial.com

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