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Mortgage Market Update
My Mortgage Company
Golden Summit Mortgage Group
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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One of the most common questions I hear is whether someone should refinance their mortgage. The answer really depends on your personal situation, not just what rates are doing.
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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 one-size-fits-all. Some people benefit from lower rates, shorter loan terms, or switching from adjustable to fixed. Others find that closing costs and the time it takes to break even don't work in their favor. The key is understanding your own situation: how long you plan to stay in your home, what your current loan terms are, and how much you'd actually save. A refinance can be smart money in the right circumstances—but only if the numbers work for you personally. I'm happy to walk through whether it makes sense for your specific loan and timeline. Let's talk through whether refinancing could work for 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
Golden Summit Mortgage Group
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