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Mortgage Market Update
My Mortgage Company
JV Mortgage
Friday, November 6, 2026
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Your equity is growing every month |
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One of the best things about being a homeowner is what happens behind the scenes. As you make payments, something valuable is quietly building.
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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
Your home is building wealth every month
Every mortgage payment you make builds equity—the portion of your home you actually own. As you pay down the loan, your stake in the property grows. This matters because equity can become a financial resource down the road. Some homeowners tap into it through a refinance or home equity line of credit if they need cash for repairs, education, or other goals. The longer you own and the more you pay, the more equity you have to work with. If you've been in your home for a few years, you might be surprised how much you've already built. It's one of the quietest wealth-builders available to homeowners, and it happens whether you're thinking about it or not. I'm happy to pull together a quick equity snapshot for your home if you'd like to see where you stand.
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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
JV Mortgage
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