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Mortgage Market Update
My Mortgage Company
Janice Carroll
Tuesday, November 3, 2026
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Does refinancing make sense for you right now? |
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I've been thinking about refinancing a lot lately—mostly because so many of you have been asking about it. Let me share what I tell everyone who's considering it.
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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 the answer depends on your situation more than you might think. Refinancing can lower your monthly payment, shorten your loan term, or switch from an adjustable to a fixed rate—but it only makes sense if the benefit outweighs the cost of the process. The right move for your neighbor might not be right for you, and that's okay. If you're curious whether refinancing could work in your favor, I'm happy to walk through the numbers with you, no pressure. It's one of those decisions worth getting clear on before you commit. Reach out if you'd like to explore whether refinancing fits 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
Janice Carroll
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