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Mortgage Market Update
Marc Sears
Marc Sears
Tuesday, November 3, 2026
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Should you refinance? Let's do the math |
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Some of the best financial decisions start with a simple question: is this actually worth it? Today I want to talk about one that comes up often.
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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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Refinance Strategy
When does refinancing actually make sense?
Refinancing can feel like an easy answer when rates drop or your situation changes, but it's worth taking a step back to do the math first. Between appraisal fees, title work, and processing costs, there's a real expense to moving into a new loan. The payoff depends on how long you plan to stay in your home, what your current rate is, and how much you owe. Sometimes it's the right move; sometimes your money is better spent elsewhere. I find that borrowers who run the numbers ahead of time—rather than deciding on emotion—end up making choices they feel confident about. Let's talk through your specific situation and see if it pencils out for you. Reach out and we can walk through whether refinancing makes sense right now.
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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 Marc Sears team any time and we'll walk you through your options. |
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