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Mortgage Market Update
My Mortgage Company
Angela Sanchez
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Life changes, and so do mortgages. This week I want to walk you through when refinancing might be the right move.
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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 Basics
Should you refinance your mortgage?
Refinancing isn't just about chasing lower rates—it can serve different goals depending on where you are in your loan. Some borrowers refinance to shorten their loan term and build equity faster. Others refinance to pull out cash for home improvements, debt payoff, or other needs. Still others refinance to switch loan types or get out of a mortgage that no longer fits their situation. The key is understanding what you're trying to accomplish and whether the move makes financial sense for your specific circumstances. If you've been in your home for a while or your financial picture has changed, it's worth a conversation. I can walk you through the options and help you figure out if refinancing makes sense right now. Let's talk about whether refinancing could work for 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 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
Angela Sanchez
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