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Mortgage Market Update
My Mortgage Company
Clover Dowdy
Tuesday, November 3, 2026
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Does refinancing actually work for you? |
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Refinancing comes up a lot in conversations with homeowners. But it's worth asking the right questions before you move forward.
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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 Reality
Should you refinance? Here's what to consider.
Refinancing isn't always the right move, even when rates look tempting. The real question is whether the savings over time outweigh the costs of taking out a new loan. Your loan officer and I can run the actual numbers for your situation — how long you plan to stay in the home, what your current loan terms are, and where rates stand today all matter. Some borrowers break even in a few years and come out ahead. Others find it doesn't pencil out. There's no one-size-fits-all answer, which is why a conversation beats a guess. Reach out if you'd like to explore whether it makes sense for you. Let's talk through the real numbers for your loan.
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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
Clover Dowdy
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