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Mortgage Market Update
My Mortgage Company
Brent Busch
Tuesday, November 3, 2026
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Is refinancing worth it for you? |
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I know refinancing can seem confusing, with all the different angles to consider. Let me break down what actually matters and help you decide if it's worth your time.
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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 Strategy
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates have moved—it's whether a new loan makes financial sense for your specific situation. Sometimes a lower rate saves you money. Other times, closing costs and how long you plan to stay in your home mean refinancing doesn't pencil out. I've seen homeowners gain tens of thousands in savings, and I've also steered people away from deals that looked good on the surface but weren't worth it. The math is personal to you. If you're wondering whether now is worth exploring, I'd like to run some numbers and give you an honest answer—no pressure, just clarity. Let's talk 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
Brent Busch
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