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Mortgage Market Update
David Frederick
David Frederick
Thursday, November 5, 2026
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Do you know how much equity you have? |
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Hi there. This week I'm talking about home equity—what it is, why it matters, and how it might work for you.
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National Mortgage Rates · November 3, 2026
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Conventional 30-Year
7.17%
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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 Check
What your home's value means for your finances
If you've owned your home for a while, you've likely built equity—the difference between what your home is worth and what you still owe on your mortgage. That equity isn't just a number on paper. It can be a financial tool when you need it: you may be able to borrow against it for home improvements, debt consolidation, or other expenses through a home equity loan or line of credit. Even if you don't need to tap into it right now, knowing roughly what your equity position is helps you understand your overall net worth and plan ahead. The tricky part is that home values change, and so does your equity. If you're curious where you stand or wondering whether a home equity option might work for you, I'd love to walk through the numbers together. Let's schedule a quick call to talk about your home's equity and what options might be available to 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 David Frederick team any time and we'll walk you through your options. |
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