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Mortgage Market Update
Kelly King
Kelly King
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Hi there. I wanted to share something I hear about pretty often—should I refinance my mortgage?
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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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Refinance Strategy
When does refinancing actually make sense?
A lot of folks ask me if they should refinance, and the truth is it depends on your specific situation. The main thing to look at is whether the money you'd save on your monthly payment or interest over time outweighs the cost of refinancing. If you're planning to stay in your home for a while, the math often works in your favor—but if you're thinking about selling soon, it might not. Beyond the numbers, refinancing can also help if you want to tap into your home's equity for repairs or consolidate debt. The best move is to run the numbers for your own scenario, and I'm here to walk through that with you anytime. If you're curious whether refinancing could work for you, let's talk through your options.
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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 Kelly King team any time and we'll walk you through your options. |
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