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Mortgage Market Update
My Mortgage Company
Armond Ohan
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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Refinancing comes up a lot, but it's not one-size-fits-all. Here's how to think about it.
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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 actually makes sense
A lot of people ask me whether they should refinance, and the honest answer is: it depends on your situation. Refinancing isn't always the right move, even if rates look attractive. What matters most is how long you plan to stay in your home, what your current loan terms are, and how the new numbers compare to what you're paying now. The goal isn't to chase rates—it's to improve your financial position. Sometimes staying put is the smartest choice. That's why I always recommend we run the real numbers together before you make a decision. No guessing, no pressure. If you're wondering whether refinancing could work for you, let's talk through it.
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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
Armond Ohan
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