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Mortgage Market Update
My Mortgage Company
Nick Germano
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Hi there. This week I want to address one of the most common questions I hear: whether now is the right time to refinance.
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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
Should you refinance? Here's how to know.
Refinancing isn't always the right move, even when rates look appealing. The real question is whether the benefit you'd gain outweighs the cost of doing it. I talk to borrowers who assume refinancing always saves money—but it depends on your timeline, how long you plan to stay in the home, and what your current loan looks like. If you're thinking about making a move, paying off your mortgage sooner, or just want to see if a refinance makes sense for your situation, I can walk through the math with you. Sometimes it's a clear yes. Sometimes it's better to wait. And sometimes your current loan is already doing exactly what you need it to do. Let's talk through whether refinancing makes sense for you 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 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
Nick Germano
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