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Mortgage Market Update
My Mortgage Company
David Martel Powered By Barrett Financial Group
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Sometimes the best financial move is staying the course. Other times, a fresh look at your mortgage opens up real opportunities.
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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 it makes sense to refinance your loan
Refinancing isn't just about chasing lower rates—it's about whether the math actually works for your situation. Some people benefit from shortening their loan term, others from lowering their monthly payment, and some from tapping home equity for a major expense. The key is comparing what you'd save over time against the costs to refinance. If you've been in your home a few years, your credit has improved, or your circumstances have shifted, it might be worth a conversation. I can walk you through whether refinancing makes sense for you, or if staying put is the smarter move right now. Let's talk through whether refinancing could work for 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
David Martel Powered By Barrett Financial Group
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