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Mortgage Market Update
Jessica Firmiano
Jessica Firmiano
Tuesday, November 3, 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 2, 2026
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Conventional 30-Year
7.13%
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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
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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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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