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Mortgage Market Update
Sandy McAlpine
Sandy McAlpine
Friday, November 6, 2026
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How much wealth are you building? |
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Hi there, this week I want to focus on something powerful that many homeowners overlook: the equity sitting in their home right now.
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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 Basics
Your home is building wealth every month
If you've owned your home for a few years, you likely have more equity than you realize. Equity is the difference between what your home is worth and what you still owe on your mortgage—and it grows two ways: as you pay down your loan, and as your home's value appreciates over time. That equity can become real money when you need it. Many homeowners tap into their equity through refinancing, a home equity line of credit, or a cash-out loan to fund renovations, education, or other goals. The sooner you understand how much equity you have and what options exist, the better you can plan your financial moves. I'd love to help you get a clear picture of your situation. Let's talk about what your home equity could do 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 Sandy McAlpine team any time and we'll walk you through your options. |
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