Mortgage Market Update

My Mortgage Company

Dwayne Bull

Friday, November 6, 2026

Your home's equity—what you should know

I'm sharing something a lot of homeowners overlook: the real value they're building with every payment they make. Here's what matters.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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

The equity you're building might be more useful than you think

Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Over time, that adds up. If your home has appreciated or you've paid down your loan balance significantly, you may have accumulated real financial flexibility.

That equity can work for you in several ways, whether you need cash for home improvements, education, or other goals. The key is understanding how much you have and what options make sense for your situation. It's worth a conversation to see where you stand and what tools might be available to you.

Let's talk about your equity and what it could mean for your finances.

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

My Mortgage Company

Dwayne Bull

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