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Mortgage Market Update
My Mortgage Company
Dakota Howard
Tuesday, November 3, 2026
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Should you refinance right now? |
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Refinancing can be a smart financial move—or a costly mistake. Here's how to tell the difference.
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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 Basics
When refinancing actually makes sense
Refinancing isn't always the right move—even when rates look attractive. The real question is whether the long-term benefit outweighs what you'll pay upfront to swap your current loan for a new one. Some people benefit from lower monthly payments or a shorter loan term. Others are better off staying put. The calculus depends on how long you plan to stay in your home, your current loan balance, and the total costs involved. If you've been wondering whether now is your moment to refinance, I'd rather give you an honest assessment than push you toward something that doesn't serve your situation. Let's talk through the numbers together. Reach out if you'd like to explore whether refinancing makes sense for your home.
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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
Dakota Howard
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