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Mortgage Market Update
Fawn Crosby
Fawn Crosby
Tuesday, November 3, 2026
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Does refinancing still make sense for you? |
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Hi there. With rates moving the way they do, I get a lot of questions about whether homeowners should refinance. Here's what you need to consider.
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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
Does refinancing still make sense for you?
Refinancing isn't always the right move—it depends on how long you plan to stay in your home, what your current rate is, and how rates have shifted since you borrowed. The math works differently for everyone. If you've owned your home for a couple of years and rates have moved in a meaningful way, it might be worth a conversation. But if you're planning to sell soon or your situation has changed, refinancing could cost you more than it saves. The best way to know is to run the numbers with someone who understands your specific loan and goals. I can help you figure out whether it makes financial sense for your timeline. Let's talk through whether refinancing fits 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 Fawn Crosby team any time and we'll walk you through your options. |
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