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Mortgage Market Update
My Mortgage Company
Felipe Aguila
Tuesday, November 3, 2026
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When should you think about refinancing? |
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Homeownership decisions are personal, and refinancing is no exception. Let's talk about what matters when deciding whether it's the right move for you.
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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 it make sense to refinance?
Refinancing isn't a one-size-fits-all move. Some borrowers benefit from lower rates or a shorter loan term; others are better off staying put. The key is understanding your own situation—how long you plan to stay in your home, what your current loan costs, and whether the math actually works in your favor. I've seen people rush into a refinance too quickly, and I've also seen people miss a real opportunity because they weren't sure what to look for. The good news is that running the numbers doesn't cost you anything, and it gives you clarity on whether a move makes sense for you right now. If you're wondering whether refinancing could help your situation, I'd be happy to walk through the details with 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
Felipe Aguila
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