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Mortgage Market Update
My Mortgage Company
Chris Butler
Friday, November 6, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to touch on something many homeowners don't think about often enough—the value you're building in your home.
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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 & Access
Your home's value might unlock more options
As a homeowner, you're building equity with every payment you make. That growing equity can open doors—whether you need cash for home repairs, education, or consolidating debt. A home equity line of credit or cash-out refinance lets you tap into what you've already paid for. The key is understanding what you qualify for and whether borrowing against your home makes sense for your specific goals. It's worth exploring your options, especially if rates or your financial situation have changed since you bought. I'd be happy to walk you through what's available to you and help you decide if it's the right move. Let's talk about what your equity can 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 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
Chris Butler
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