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Mortgage Market Update
My Mortgage Company
Joel Rodriguez
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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Refinancing gets a lot of attention, but it's not always the right answer for every homeowner. Let me help you figure out if it makes sense for you.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the benefit you'd gain outweighs what it costs to refinance. Some borrowers save significantly by lowering their rate or shortening their loan term. Others find that closing costs and the time it takes to break even don't justify the switch. The smartest approach is to run the actual numbers on your specific loan. I can show you a clear comparison: what you'd pay to refinance versus what you'd save over time. Once you see that picture, the decision becomes much clearer. If you've been wondering whether now is the time to make a move, let's talk through your situation together. Reach out and I'll walk you through whether refinancing makes sense 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
Joel Rodriguez
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