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Mortgage Market Update
My Mortgage Company
Evan - Recruiting
Friday, October 23, 2026
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How much equity are you sitting on? |
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Hi there—this week I'm thinking about one of the most powerful benefits of homeownership that often goes unnoticed.
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National Mortgage Rates · October 21, 2026
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Conventional 30-Year
7.30%
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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 quietly working for you
Every mortgage payment you make builds equity—that's the portion of your home you actually own. It's easy to overlook because it happens automatically, but over time, it becomes real wealth. As you pay down your loan and your home holds or appreciates in value, that equity grows. Some of you may have built significant equity already without fully realizing it. That equity can be tapped for home repairs, education, or other big expenses through a home equity line of credit or cash-out refinance. The first step is knowing what you have. I'd love to run a quick analysis of your situation—it's free, takes minutes, and might open up options you didn't know existed. Reach out anytime you'd like to explore what equity you've built and how it might serve your goals.
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Tip of the Week
Test your sump pump before the rainy season by pouring water into the pit — a failed pump can lead to serious basement flooding.
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Tips for Homeowners
Rate Lock Strategy: When and How Long to Lock
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1.
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A rate lock guarantees your interest rate for a set period — typically 30, 45, or 60 days. Longer locks cost more but protect you if the process takes longer than expected.
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2.
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Lock when you're under contract and confident the deal will close. Don't lock before you have a signed purchase agreement — you're paying for protection you may not need.
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3.
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If rates drop after you lock, ask your lender about a float-down option. Some lenders offer this for a fee, allowing you to take advantage of a lower rate if the market moves in your favor.
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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
Evan - Recruiting
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