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THIS WEEK
Does refinancing work for your situation?
Sometimes borrowers ask me if they should refinance, but the answer depends on more than just rates. This week I want to explain what actually moves the needle on that decision.
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RATE SNAPSHOT · October 29, 2026
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CONVENTIONAL 30-YR
7.15%
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FHA 30-YR
7.04%
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VA 30-YR
6.79%
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Source: Optimal Blue daily mortgage indices via FRED · Informational only
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Refinancing Basics
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates have changed—it's whether the math works for your situation. If you're planning to stay in your home for several years, refinancing might lower your monthly payment or shorten your loan term. But if you're thinking of selling or moving soon, the closing costs might outweigh any savings. The best time to explore it is when your circumstances change or when you're curious about your options. I'm happy to walk through the numbers and show you whether it makes sense for you right now. Let's talk through whether refinancing could work for your home and timeline.
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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 Brad Flores team any time and we'll walk you through your options.
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