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Mortgage Market Update
My Mortgage Company
Fetchy McFetch
Tuesday, November 3, 2026
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Is refinancing worth it right now? |
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Refinancing is one of those tools that works beautifully in the right situation—and can cost you money in the wrong one. Let me break down when it makes sense for you.
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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 makes sense (and when it doesn't)
A lot of people think refinancing is only worth it if rates drop significantly. That's one reason to do it, but there are others. You might refinance to shorten your loan term, lock in a fixed rate if you're on an adjustable one, tap into your home equity, or switch to a different loan program that works better for your situation now. The catch is that refinancing comes with costs, so the math has to work in your favor. That's why a conversation with me matters—I can look at your specific loan and timeline to figure out whether refinancing actually pencils out for you, or if staying put makes more sense. Let's talk through your options and see if a refinance could work for your goals.
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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
Fetchy McFetch
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