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Mortgage Market Update
My Mortgage Company
Mischa Rytz
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to talk about one of the questions I hear most often—and one that deserves a straightforward answer.
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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?
A lot of people ask me if they should refinance, and my honest answer is always: it depends. Refinancing makes sense when your situation has genuinely changed—maybe rates have moved in your favor, your credit has improved, or you want to tap your home's equity for something important. But it's not automatic. You'll want to think about how long you plan to stay in your home, what your new loan costs would be, and whether the math actually works out over time. The goal is never to refinance for the sake of it, but only when it solves a real problem for your household. If you're wondering whether refinancing could work for you, I'd be happy to walk through the numbers with no obligation.
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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
Mischa Rytz
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