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Mortgage Market Update
My Mortgage Company
Manila
Tuesday, November 3, 2026
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Refinancing might not be worth it for you |
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Refinancing can be a smart move, but it's not always the right one. Let me walk you through how to know the difference.
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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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Refinancing Basics
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the long-term benefit outweighs what you'll pay in closing costs and fees to make the switch. Some borrowers benefit in months; others need years to break even. It depends on your loan balance, how long you plan to stay in your home, and how much your payment or terms would actually improve. That's why a straightforward conversation about your specific situation matters more than chasing every rate dip. I'm here to run the actual numbers for you and help you decide if it makes sense. Let's talk through your refinance options—reach out anytime.
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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 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
Manila
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