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Mortgage Market Update
My Mortgage Company
Ed - Regional Mortgage
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Not every borrower should refinance—and that's okay. Here's how to know if it's worth exploring for 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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Refinance Reality
When refinancing actually makes sense
A lot of homeowners ask me if they should refinance, and the honest answer is: it depends on your situation. Refinancing makes sense when the benefits outweigh the costs and effort—but that's different for everyone. Your loan term, how long you plan to stay in the home, current equity, and what you're trying to accomplish all matter. Some people refinance to lower their payment or shorten their loan term. Others tap equity for a big project or to consolidate debt. The key is running the real numbers for your specific circumstances, not just comparing interest rates. I'm here to help you figure out whether it's the right move for you. Let's talk through whether refinancing could work for your goals.
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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
Ed - Regional Mortgage
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