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Mortgage Market Update
My Mortgage Company
Janice Carroll
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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A lot of folks ask me whether they should refinance, but the answer isn't always yes. Here's what to think about.
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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
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question is whether the benefit you'd get—a lower payment, shorter loan term, or different loan type—is worth the time and cost involved. Sometimes staying put is smarter than starting over. I've seen borrowers chase a small monthly saving and end up in a longer payoff timeline, which costs them more in the long run. The best way to know if refinancing makes sense for you is to run the actual numbers on your specific loan and goals. That's what I'm here to help with—no pressure, just clarity. If you're wondering whether a refinance could work in your favor, let's talk through it together.
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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
Janice Carroll
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