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Mortgage Market Update
My Mortgage Company
Duane Vizinau
Tuesday, November 3, 2026
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Is refinancing worth it right now? |
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Hi there. This week I want to tackle a question I hear often: when is the right time to refinance?
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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 drop. The real question is whether the long-term benefit outweighs what you'll pay upfront to switch loans. Some people refinance to lower their monthly payment, others to shorten their loan term, and some to tap into equity they've built. The math is different for everyone depending on how long you plan to stay in your home, your current loan terms, and your financial goals. If you've been wondering whether now is the time for you, I'd love to walk through the numbers and see what makes sense for your situation. Let's talk through whether refinancing could work for you.
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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
Duane Vizinau
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