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Mortgage Market Update
My Mortgage Company
John Ludwikoski
Tuesday, November 3, 2026
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Is refinancing actually worth it right now? |
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A lot of homeowners ask me whether they should refinance. The honest answer depends on your personal timeline and numbers—not just rates alone.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain over time outweighs the cost to refinance. Some borrowers save money; others find their break-even point is years away. A few things shape the answer: how long you plan to stay in your home, how much you've paid down, and the current difference between your rate and what's available. If you've been wondering whether it's worth a conversation, now's a good time to run the numbers together. I can show you what your actual savings might look like, not guesses. Let's talk through whether refinancing fits 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
John Ludwikoski
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