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Mortgage Market Update
My Mortgage Company
Luke Morris
Tuesday, November 3, 2026
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Does your mortgage deserve a second look? |
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Some mortgages age better than others. If yours might be costing you unnecessary money, here's what you should know.
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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 your old rate stops working for you
Your mortgage was a good deal when you locked it in. But if rates have moved in your favor since closing, staying put might cost you more than you realize—not just in interest, but in money that could go toward other goals. Refinancing isn't right for everyone, and the details matter: how long you plan to stay, what closing costs would be, and what your new payment would look like all factor in. The good news is that exploring your options costs nothing, and the math is usually pretty clear. If you haven't thought about this in a while, it might be worth a conversation. I'm here to walk you through the numbers and help you decide what makes sense for your situation. Let's talk about whether refinancing could work for you.
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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
Luke Morris
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