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Mortgage Market Update
My Mortgage Company
Grizzly Mortgage
Tuesday, November 3, 2026
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When refinancing actually pays off |
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Every homeowner's situation is different, and the same financial move doesn't work for everyone. This week I want to break down when refinancing makes real sense.
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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 does refinancing actually make sense?
I get asked this a lot, and there's no single answer—it really depends on your situation. Some people refinance to lower their rate and monthly payment. Others do it to switch from an adjustable rate to a fixed one, or to tap into their equity for a major expense. The key is understanding what you're trying to accomplish and whether the numbers work in your favor over time. If you're wondering whether a refinance makes sense for you right now, I'd be happy to walk through your options without any pressure or guesswork. Let's talk about whether refinancing could work for your goals.
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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
Grizzly Mortgage
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