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Mortgage Market Update
My Mortgage Company
One Real Mortgage's Account
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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One of the most common questions I get is whether it's time to refinance. The honest answer depends on your specific circumstances, not just market conditions.
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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 is whether the long-term benefit outweighs the upfront cost and the time you'll stay in your home. Some borrowers benefit in months; others need years for the math to work. A few honest questions: How long do you plan to keep the house? What are your closing costs? How much lower would your payment actually be? There's no one-size-fits-all answer, which is exactly why I like to walk through the numbers with each person individually. If you've been curious whether a refi makes sense for your situation, I'm happy to break down the real picture—no pressure, just clarity. Let's talk through whether refinancing fits 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
One Real Mortgage's Account
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