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Mortgage Market Update
My Mortgage Company
Andrew Weinberg
Tuesday, November 3, 2026
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Is refinancing worth it for your situation? |
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Refinancing gets a lot of attention, but it's not right for everyone. Here's what actually matters when you're deciding.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the savings over time justify the costs and effort of a new loan. Some people refinance to lower their payment or shorten their loan term. Others tap equity for a major expense. But if you're only a few years into your mortgage, or planning to move soon, refinancing might not pencil out. I help borrowers run the real numbers—not just the marketing version—so you can decide with confidence. If you've been curious whether it's worth exploring, let's talk through your specific situation. Reach out if you'd like to discuss whether refinancing fits your goals 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
Andrew Weinberg
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