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Mortgage Market Update
My Mortgage Company
Anthony Rice
Tuesday, November 3, 2026
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Does refinancing pencil out for you? |
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Not every rate drop is worth acting on. Here's how to know if refinancing deserves your attention.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look appealing. The real question is whether the long-term benefit outweighs the upfront cost and time involved. Some borrowers see meaningful savings; others break even or come out behind. It depends on your loan age, how long you plan to stay in your home, your current rate, and what you're trying to accomplish—lower payments, shorter timeline, or cashing out equity. I'd rather help you run the actual numbers than guess. If you've been thinking about refinancing but aren't sure it's worth it, let's talk through your specific situation. The answer might surprise you. Reach out if you'd like me to walk through whether refinancing makes sense for your loan.
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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
Anthony Rice
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