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Mortgage Market Update
My Mortgage Company
Pre-Fi
Friday, October 23, 2026
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What's your home equity worth right now? |
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Hi there. This week I want to talk about something that builds quietly but steadily: the equity in your home.
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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 working for you every month
Every mortgage payment you make builds equity—that's the portion of your home's value you actually own. As you pay down your loan balance over time, your stake in the property grows. This matters because equity gives you options: you can borrow against it for major expenses, refinance into better terms if rates shift in your favor, or simply build real wealth that stays in your family. The longer you hold your home, the more equity accumulates. I often talk with clients who don't realize how much equity they've built until we pull a statement and run the numbers. If you're curious about your current position or wondering how refinancing could accelerate your equity growth, let's have a conversation. I'd be happy to walk through your equity picture and explore what might work for your situation.
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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
Pre-Fi
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