Mortgage Market Update

My Mortgage Company

Secured Lending Group

Tuesday, November 3, 2026

Should you refinance your mortgage?

Not every rate move calls for action. But sometimes one does. Here's how to tell the difference.

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 isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain covers what you'd pay to refinance. Some people break even in months; others take years. The only way to know is to look at your specific loan, remaining balance, and how long you plan to stay in your home.

I see borrowers make two mistakes: jumping on refinancing without doing the math, or avoiding it because they assume the costs are too high. The truth is somewhere in the middle. If you've been thinking about it, let's run the numbers together and see if it actually works for your situation.

Reach out if you'd like me to run a quick refinance analysis for you.

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

Secured Lending Group

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