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Mortgage Market Update
My Mortgage Company
Anthony Rice
Tuesday, November 3, 2026
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Should you refinance right now? |
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One of the questions I hear most often is whether someone should refinance their mortgage. Let me walk you through how to think about it.
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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 Timing
When does it make sense to refinance?
Refinancing isn't a one-size-fits-all move, and it's easy to overthink it. The real question is whether the benefit you'd gain—a lower payment, shorter loan term, or getting out of an adjustable rate—outweighs the cost and effort of the transaction. Sometimes the math says yes right away. Other times, you need to stay put a little longer. I help borrowers look at their specific situation: how long you plan to stay in the home, what your current terms are, and what's available now. If you've been wondering whether it's worth exploring, I'm happy to run the numbers with you—no obligation. Let's talk about whether refinancing makes sense 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
Anthony Rice
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