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Mortgage Market Update
My Mortgage Company
Michael Hulse
Tuesday, November 3, 2026
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Does refinancing make sense for you right now? |
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Not every borrower should refinance, and not every time is the right time. Here's how to think about it.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't a one-size-fits-all move, and it shouldn't be. The math depends on how long you plan to stay in your home, what your current loan terms are, and where rates sit relative to your existing rate. Some borrowers refinance to lower their payment. Others refinance to shorten their loan term or tap home equity for a specific goal. Before you apply, it's worth having an honest conversation about your timeline and what you're trying to achieve. That's where a quick review with me comes in—I can walk through the numbers and help you figure out if it makes sense right now, or if waiting might be smarter for your situation. 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
Michael Hulse
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