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Tuesday, November 3, 2026 |
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Mortgage Market Update
Your mortgage might be ready for a change
Hi there,
Each week I share something I'm hearing from borrowers or seeing in the market. This week, it's about the loans themselves.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
6.88%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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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Loan Program Fit
Is your loan type still the right match?
When you first got your mortgage, it made sense for where you were. But life changes—income grows, plans shift, rates move. Maybe you locked in a fixed rate years ago, or you're on an adjustable that's about to reset. Maybe you're carrying an FHA loan and now have enough equity to move into conventional terms. The point is, what worked then might not be your best option now. A quick conversation about your current situation can reveal whether staying put or making a move makes more sense for your wallet and 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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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 Jake Kornberg team any time and we'll walk you through your options.
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5060 Baker Rd Minnetonka, MN. 55345
612-396-0227
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