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Tuesday, November 3, 2026 |
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Mortgage Market Update
Should you refinance? Here's how to tell.
Rates move, and when they do, refinancing comes to mind. But a lower rate doesn't always mean a refinance makes financial sense.
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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
Refinancing isn't always the right move, even when rates shift. The main reason people refinance is to lower their monthly payment or shorten their loan term, but there are real costs involved—closing costs, appraisals, and time. That's why it pays to do the math first. If you're planning to stay in your home long enough to recoup those costs through savings, refinancing can be smart. But if you might move or sell in the next few years, it may not be worth it. The best way to know? A simple comparison of what you'd save versus what you'd pay upfront. I'm happy to walk you through that conversation whenever you're curious. Let me know if you'd like to explore whether refinancing pencils out for your situation.
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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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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 Ashli Huron team any time and we'll walk you through your options.
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2102916167
NMLS# 1577691
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