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Mortgage Market Update
My Mortgage Company
Stephanie Devlin
Friday, November 6, 2026
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How to use the equity you've built |
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Hello,
One of the best parts of owning a home is building wealth over time. Let me share how that works for you.
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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
What your home's equity can do for you
If you've been a homeowner for a while, you've likely built equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. Depending on your situation, it can become real money you access when you need it, through options like a home equity line of credit or a cash-out refinance. Some people use it for home improvements, debt consolidation, or major life expenses. The key is understanding whether tapping that equity makes sense for your goals and your budget right now. Every homeowner's situation is different, and I'm happy to walk through what your options might look like. Let's talk about whether accessing your equity is the right move 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
Stephanie Devlin
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