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Mortgage Market Update
My Mortgage Company
Providence Bridge Fund
Saturday, October 24, 2026
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Do you know how much equity you have? |
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Hi there—this week I'm diving into a topic that surprises a lot of homeowners: the real value building quietly in their homes. Here's what you should know.
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National Mortgage Rates · October 22, 2026
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Conventional 30-Year
7.25%
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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 & Access
Your home's equity might be worth more than you think
If you've owned your home for a few years, you likely have equity built up—the difference between what your home is worth and what you owe on your mortgage. Many homeowners don't realize how much they've accumulated, or what they can do with it. Whether you're thinking about a renovation, paying off debt, or handling an unexpected expense, tapping into your equity through a refinance or a home equity line of credit can be a smart option. The key is understanding what you have available and whether it makes financial sense for your situation. If you're curious whether your equity could work for you, I'd be happy to walk through the numbers and explore what might be possible. Let's talk about what your equity could mean for 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
Providence Bridge Fund
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