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Mortgage Market Update
Nicole Miller
Nicole Miller
Thursday, November 5, 2026
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How much equity are you sitting on? |
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There's a lot happening in the mortgage world every week. Here's what matters to you right now.
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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 Reality Check
Do you know how much equity you actually have?
If you've owned your home for a few years, you've likely built some equity—the difference between what your home is worth and what you still owe. But a lot of homeowners guess at this number instead of knowing it for sure. That matters because equity can open doors: a home equity line of credit for renovations, a cash-out refinance for debt consolidation, or even a bridge loan if you're buying before you sell. The first step is getting honest about where you stand. A quick conversation with me can help you understand your equity position and whether it makes sense to tap into it for your goals. Let's talk about your 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 Nicole Miller team any time and we'll walk you through your options. |
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