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Mortgage Market Update
Dave Medina
The Alevate Group/CMG Home Loans
Tuesday, November 3, 2026
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Does refinancing work for your house? |
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Some weeks I get asked about refinancing more than anything else. Let me share what actually matters when you're weighing the decision.
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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
Refinancing isn't automatically the right move—even if rates drop or your home's value climbs. The real question is whether a new loan saves you money over the time you plan to stay in your home. Some people benefit from lowering their rate or switching loan terms. Others find that closing costs and the reset timeline don't pencil out for their situation. That's why it pays to run the actual numbers before you commit. I can walk you through what a refinance would look like for you and whether it clears the bar. No obligation—just clarity. Ready to see if it makes sense for your house and your plans?
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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 Dave Medina team any time and we'll walk you through your options. |
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28780 Single Oak Drive, Suite 250, Temecula, Ca 92590
951-858-4761 | https://www.cmgfi.com/team/Alevate-Group
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