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Mortgage Market Update
My Mortgage Company
Roberta Rustin
Tuesday, November 3, 2026
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Does refinancing make sense for you right now? |
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Some homeowners are sitting on an opportunity to lower their payments or shorten their loan. Others are better off leaving their mortgage alone. How do you know which camp you're in?
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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 Readiness
When a rate drop makes refinancing worth your time
Refinancing isn't always the right move—but sometimes it absolutely is. The math depends on how long you plan to stay in your home, what your current rate looks like compared to today's market, and the costs involved in the process. A refinance that lowers your payment might make sense if you're keeping the house for several more years; a refinance that shortens your loan term is often smart if you're thinking long-term wealth-building. The tricky part is knowing which scenario fits your life. That's where a quick conversation helps. I can run the numbers on your specific situation and show you whether refinancing pencils out for you—or whether staying put makes more sense right now. Let's talk through whether a refinance could work in your favor.
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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
Roberta Rustin
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