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Mortgage Market Update
My Mortgage Company
Ares Mortgage
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Sometimes the smartest money move is doing nothing. Other times, it's worth a closer look. Here's how to know which one applies to you.
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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 does refinancing actually make sense?
Refinancing isn't always the right move—even when rates drop. The real question isn't whether rates are lower, but whether the new loan makes financial sense for your situation. Some borrowers benefit immediately. Others need to stay put. It depends on how long you plan to stay in your home, what you'd pay in closing costs, and what your current loan terms are. That's why a straightforward conversation matters. I can walk through the actual numbers for your mortgage and help you see whether refinancing would genuinely improve your position or if you're better off holding steady. There's no one-size-fits-all answer, but there's always a clear answer for you. Let's talk through whether refinancing makes sense in your situation.
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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
Ares Mortgage
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