Mortgage Market Update

My Mortgage Company

Jonathan Ortega

Tuesday, November 3, 2026

Does refinancing make sense right now?

Hello, I hope things are going well with your home. This week I want to talk about something I hear about often: whether it makes sense to refinance.

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 Strategy

When does refinancing actually make sense?

Refinancing isn't a one-size-fits-all move. It can make sense if rates have shifted meaningfully in your favor, or if your life has changed—maybe your credit improved, your income grew, or you want to shorten your loan term. But it also comes with costs and a new timeline, so the real question is whether the benefits justify those expenses over the years you plan to stay in your home.

I talk to homeowners all the time who wonder if they should refinance. The answer depends entirely on your situation: where rates stand now versus your current loan, how long you'll keep the house, and what you're trying to accomplish. There's no magic number that triggers it automatically.

If refinancing has crossed your mind, let's walk through your specific scenario. I can help you see whether it pencils out for you.

Reach out and we can run the numbers together.

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

Jonathan Ortega

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