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Mortgage Market Update
Jessica Firmiano
Jessica Firmiano
Friday, November 6, 2026
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How much equity are you sitting on? |
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Building wealth through homeownership happens quietly—one payment at a time. Let's look at what you've actually built so far.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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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
The equity you're building right now
Every mortgage payment you make builds equity in your home—that's the difference between what your home is worth and what you still owe. Over time, this becomes real wealth you can tap into if you need it. The longer you've owned your home, the more equity you've likely built up, especially if your home's value has held steady or risen. Knowing what you have available can open doors: a cash-out refinance, a home equity line of credit, or simply peace of mind that your investment is working for you. If you're curious about how much equity you've accumulated or how you might use it, I'd love to walk you through your options.
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Tip of the Week
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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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 Jessica Firmiano team any time and we'll walk you through your options. |
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6 Wills Way, Piscataway, NJ 08854
(908) 656-3886 | https://petracephasinc.theradcrm.com/
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