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Mortgage Market Update
My Mortgage Company
AJM Mortgage, Inc.
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Hi there. I wanted to touch base this week about a question I hear often—and how to actually answer it for yourself.
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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 actually makes sense
A lot of people ask whether they should refinance, but the real question is whether refinancing solves a problem you actually have. Maybe you want a shorter loan term to build equity faster. Maybe your credit has improved since you first borrowed, and you're curious what new options exist. Maybe your life has changed and you need more flexible terms. The point is: refinancing isn't about chasing rates—it's about whether a new loan serves your goals better than your current one. I can walk through your situation and show you what's possible, no pressure. Let's talk about whether a refinance makes sense for your home.
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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
AJM Mortgage, Inc.
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