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Mortgage Market Update
My Mortgage Company
Anthony Alzate
Friday, November 6, 2026
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The wealth you're building every month |
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Here's something that happens quietly in the background of homeownership: you're building wealth whether you think about it or not.
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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 working for you—here's how
Every mortgage payment you make builds equity in your home. That's real wealth accumulating month after month, separate from what happens with interest rates or market values. The longer you own, the more of each payment goes toward ownership instead of interest—a shift that happens automatically as your loan matures. If you've owned your home for a few years, you likely have more equity than you realize. Some people tap into that equity to fund improvements, consolidate debt, or handle life's bigger expenses. Others just let it grow. Either way, it's worth understanding what you have and what options might be available to you. If you're curious about your equity position or wondering whether it makes sense to use it, I'd love to walk through the numbers with you. Let's talk about what your equity means for your situation.
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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
Anthony Alzate
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