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Mortgage Market Update
My Mortgage Company
Providence Bridge Fund
Saturday, October 24, 2026
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How much equity do you have now? |
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Hello,
I spend a lot of time helping people understand their mortgage. This week, I want to talk about something that often flies under the radar: the wealth you're quietly building with every payment.
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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 Building
Your mortgage is an investment in yourself
Every payment you make builds equity—the difference between what your home is worth and what you owe on it. That equity is real wealth. It grows two ways: as you pay down your loan balance, and as your home appreciates over time. The longer you stay in your home, the stronger this effect compounds. Many homeowners don't realize how much equity they've accumulated until they need it—whether for a home improvement, to refinance at better terms, or to access cash for life's big moments. If you haven't checked your equity position lately, it might be worth a conversation. I'd love to walk you through what you've built. Reach out if you'd like to review your equity and explore your options.
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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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