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Mortgage Market Update
Steven Dell’Aria
Steven Dell’Aria
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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I've been fielding a lot of refinancing questions lately. Let's talk about when it actually pencils out.
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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 does a rate drop actually make sense to refinance?
The question I hear most often is: 'Should I refinance?' The honest answer depends on a few things beyond just whether rates have moved. Your break-even point matters—that's how long it takes for your monthly savings to cover the costs of refinancing. If you plan to stay in your home long enough to cross that line, it often makes sense. But if you're thinking of selling or moving sooner, the math might work against you. Other factors include your current loan term, how much equity you have, and your credit profile since then. The good news is these aren't mysteries. A quick conversation can show you whether refinancing pencils out for your specific situation. If you've wondered whether refinancing makes sense right now, I'm happy to walk through the numbers with you.
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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 Steven Dell’Aria team any time and we'll walk you through your options. |
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