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Mortgage Market Update
My Mortgage Company
Sean Ewbank
Tuesday, November 3, 2026
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Should you refinance right now? |
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Hi there—I wanted to share some straight talk about refinancing. It's one of the most common questions I get, and the answer is different for everyone.
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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 it make sense to refinance your mortgage?
Refinancing isn't a one-size-fits-all move. The real question isn't whether rates have dropped—it's whether refinancing solves a specific problem you have right now. Maybe you want to shorten your loan term, switch from adjustable to fixed, tap into home equity, or lower your payment. Each has different math behind it. The costs of refinancing (appraisal, title work, processing) mean you need to stay in the home long enough to recoup those expenses through your monthly savings. I walk borrowers through this calculation all the time, and it's worth doing before you apply. If you're curious whether refinancing pencils out for your situation, I'm happy to run the numbers with you—no obligation. Reach out if you'd like to explore whether refinancing makes sense for your home.
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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
Sean Ewbank
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