Mortgage Market Update

My Mortgage Company

Linda Shinpaugh - Your Hometown Lender

Tuesday, November 3, 2026

Does refinancing make sense for you right now?

Hey there — I want to tackle a question I hear often: is now the time to refinance? The answer isn't always yes, and I'd rather give you honest guidance than push you toward something that doesn't fit your situation.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Refinancing Basics

When refinancing makes sense (and when it doesn't)

Refinancing sounds like a solution to everything, but it's really a tool for specific situations. The main reasons people refinance are to lower their monthly payment, shorten their loan term, or switch from an adjustable rate to a fixed one. But refinancing isn't free — there are closing costs involved, and it takes time. That's why it only makes financial sense if the benefit outweighs what you'll spend to get there.

The right move depends on your personal situation: how long you plan to stay in your home, what your current loan looks like, and where rates are headed. I can help you run the actual numbers so you know whether refinancing is worth it for you, or if staying put is the smarter call.

If you're wondering whether a refinance could work for you, let's talk through the details.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Linda Shinpaugh - Your Hometown Lender

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