Janice M Williams · November 6, 2026

Do you know how much equity you have?

Mortgage Market Update

My Mortgage Company

Janice M Williams

Friday, November 6, 2026

Do you know how much equity you have?

Hey there. This week I want to talk about something a lot of homeowners overlook—the value they've already built.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Rate trend

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.


Home Equity

Your home's rising value might be working for you

If you've owned your home for a few years, or if your neighborhood has seen value go up, you likely have equity built in. That's the difference between what your home is worth and what you still owe on it. Many homeowners don't realize this asset can be tapped for major expenses—renovations, education, debt payoff, or other life goals. Depending on how much equity you have and your situation, you might have options like a home equity line of credit or a cash-out refinance. The right choice depends on your timeline, how much you need, and your comfort level with borrowing. I'd love to help you understand what equity you have and whether it makes sense to use it.

Let's talk about whether your home's equity can work for you.

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 My Mortgage Company team any time and we'll walk you through your options.

Your Mortgage Advisor

M

My Mortgage Company

Janice M Williams

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