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Mortgage Market Update
Laetitia Mortenson
Laetitia Mortenson
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to address one of the most common questions I hear from homeowners.
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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
When does it make sense to refinance?
A lot of people ask me whether they should refinance their mortgage, and the answer really depends on your personal situation. If rates have dropped since you closed, or if your credit has improved, you might be able to lower your payment or shorten your loan term. But refinancing also means closing costs and a new application process, so it only makes sense if the long-term savings justify that work. The further into your loan you are, the more you'd want to think it through. I'm here to run the numbers with you and help you see what your options actually look like. Let's talk through whether refinancing makes sense for you right now.
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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 Laetitia Mortenson team any time and we'll walk you through your options. |
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