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Mortgage Market Update
My Mortgage Company
The Loan Yard
Tuesday, November 3, 2026
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Does it make sense to refinance right now? |
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You might have heard refinancing is smart when rates move. But the real story is more nuanced than that—and worth exploring based on your own circumstances.
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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 refinancing makes sense for your situation
Refinancing isn't a one-size-fits-all move. Some borrowers benefit from a rate drop; others are better off staying put. The real question is whether the timing and terms align with your actual goals and timeline. A few things worth considering: How long do you plan to stay in your home? What's your current loan structure compared to what's available now? Are you trying to lower your payment, shorten your timeline, or tap equity for something important? These answers matter more than any single rate quote. That's why it helps to talk through your specific situation with someone who knows your loan inside and out. Curious whether refinancing could work for you? Let's walk through the numbers together.
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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
The Loan Yard
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