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Mortgage Market Update
My Mortgage Company
The Loan Lady Club
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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Refinancing comes up a lot, but it's not a one-size-fits-all decision. Here's what you need to consider.
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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 Reality
When refinancing actually makes sense
A lot of people ask me if they should refinance, and the honest answer is: it depends on your situation. Refinancing can be smart if you're looking to lower your monthly payment, shorten your loan term, or tap into equity for a major expense. But it's not automatic—there are costs involved, and you want to make sure the math works in your favor over the time you plan to stay in your home. The best move is to look at your specific numbers: how long you'll own the house, what your current loan looks like, and what today's environment offers. I'm here to walk through the details with you and help you figure out if it's worth pursuing right now. If you're curious whether refinancing could work for you, let's talk through your situation.
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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 Lady Club
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