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Mortgage Market Update
Allie Stevens
Allie Stevens
Tuesday, November 3, 2026
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When does refinancing actually make sense? |
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Hi there,
One of the most common questions I hear is whether now is the right time to refinance. Let me break down how to think about it.
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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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Refinance Readiness
Should you refinance? Here's how to tell.
A lot of homeowners ask me, "Is now the right time?" The truth is, it depends on your situation, not just the rate environment. Refinancing makes sense when the benefits—lower payments, shorter loan term, or switching loan types—outweigh the costs of getting a new loan. Some people break even in a few months; others take years. The key is running the math on your specific numbers: how long you plan to stay, what you owe, and what today's rates and terms would mean for your payment. It's worth having that conversation, especially if your circumstances have changed since you bought or last refinanced. Let's talk through whether refinancing fits your goals right now.
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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 Allie Stevens team any time and we'll walk you through your options. |
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