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Mortgage Market Update
James Sands James Sands
James Sands
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Mortgage rates are always shifting, and I get asked regularly whether now's the time to refinance. The honest answer depends on your personal situation, not just the numbers.
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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 shift. The real question is whether the long-term benefit outweighs the cost and effort of starting a new loan. If you're planning to stay in your home for several more years, refinancing could lower your monthly payment or shorten your loan term. But if you're thinking about selling or moving soon, the closing costs may not pay for themselves. The smartest approach is to run the numbers with someone who knows your whole situation—your timeline, your current loan, and your financial goals. That's where I come in. Let's talk through whether a refinance could actually work for you. Reach out and we can walk through the math together.
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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 James Sands James Sands team any time and we'll walk you through your options. |
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