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Mortgage Market Update
Pete Ruberti
Pete Ruberti
Friday, November 6, 2026
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You might be sitting on more options than you think |
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Sometimes the best financial tool is already right in front of us—we just need to see it clearly. Let's talk about home equity and what it can mean for you.
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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 & Borrowing
Your home equity isn't just a number
If you've been paying your mortgage for a few years, you likely have equity built up—and you have options. Some homeowners don't realize they can tap into that equity without selling or refinancing the whole loan. A home equity line of credit or loan lets you borrow against what you've already paid for, often at a different rate and term than your original mortgage. It's useful for renovations, debt consolidation, or unexpected expenses. The key is understanding what makes sense for your situation—how much you need, how quickly you'll use it, and what the real cost looks like over time. I'm happy to walk through whether this strategy fits your goals. Reach out if you'd like to explore what your equity could do for you.
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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 Pete Ruberti team any time and we'll walk you through your options. |
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