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Mortgage Market Update
My Mortgage Company
Kelly Rankin — Kelly Rankin
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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Thinking about refinancing but not sure if it's worth it? Here's what matters most when you're deciding.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question is whether the benefit you'd gain—a lower payment, shorter loan term, or access to equity—justifies the costs and time involved in the process. Sometimes it does. Sometimes it doesn't. The honest answer depends on your specific numbers and goals, which is why it's worth talking through before you commit. I help borrowers think this through all the time, and the clarity usually makes the decision obvious. If you're wondering whether refinancing could work for you, let's walk through it together.
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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
Kelly Rankin — Kelly Rankin
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