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Mortgage Market Update
My Mortgage Company
Haymaker Home Loans
Friday, October 23, 2026
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How much equity have you built? |
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Hi there. This week I want to remind you of something powerful that's happening with your mortgage right now—whether you realize it or not.
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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—the portion of your home you actually own. Over time, this grows into real wealth, whether you stay in your home for decades or decide to move. Equity also gives you options: you might refinance into better terms, tap it for major expenses through a home equity line of credit, or use it as a down payment on your next property. The sooner you understand how much equity you've built, the sooner you can make informed decisions about your next financial move. If you've been in your home for a few years or are curious where you stand, I'd love to walk through your numbers with you. Let's talk about what your equity means for your next step.
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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
Haymaker Home Loans
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