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Mortgage Market Update
The Douglas Team
The Douglas Team
Tuesday, November 3, 2026
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Is refinancing worth it right now? |
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Every couple of weeks I hear from someone wondering if they should refinance. The answer is almost never a simple yes or no.
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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?
Refinancing sounds straightforward until you're staring at the numbers. The truth is, it's not just about whether rates dropped—it's about whether the long-term benefit justifies the upfront costs and effort. Some people benefit from refinancing after just a year or two. Others find it makes more sense to stay put. The real answer depends on your specific situation: how long you plan to stay in your home, what your current loan looks like, and where rates are heading. I'd rather spend 20 minutes understanding your actual numbers than see you jump into something that doesn't serve you. That's where I come in. Let's talk through whether a refinance makes sense for your situation.
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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 The Douglas Team team any time and we'll walk you through your options. |
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