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Mortgage Market Update
My Mortgage Company
Javier Martinez
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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Hi there. This week I'm talking about one of the most common questions I hear—whether it's time to refinance.
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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
When does refinancing actually make sense?
Refinancing isn't always the right move—it depends on your situation, how long you plan to stay in your home, and where rates are relative to your current loan. The math has to work: lower monthly payments or a shorter payoff timeline usually need to outweigh closing costs and the time it takes to recoup them. But beyond the numbers, refinancing can be a smart strategy if your credit has improved, you want to tap home equity for a major expense, or you're ready to pay off your mortgage faster. The decision is personal, and it's worth exploring if you're wondering whether now is your moment. Reach out if you'd like to run the numbers and see if 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
Javier Martinez
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