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Mortgage Market Update
My Mortgage Company
Summer Britt
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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I talk with homeowners all the time who wonder if they should refinance. Here's how to think about it clearly.
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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 Readiness
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit outweighs what you'd pay to close a new loan. Some people refinance to lower their rate or switch loan types. Others do it to tap equity for a home project or consolidate debt. But if you're only going to stay in your home a couple more years, the costs might not pencil out. I help borrowers run the real numbers—not just "if rates drop by half a point," but "if you actually stay here five more years, does this pay for itself?" It's worth an honest conversation before you decide. Let's talk through whether refinancing fits your situation. Reach out if you'd like to explore whether refinancing makes sense for you 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 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
Summer Britt
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