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Mortgage Market Update
My Mortgage Company
Kevin Spain
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Not every market shift calls for a new mortgage. Let's talk about when it actually pays off.
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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 actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit outweighs the cost of closing a new loan. If you're planning to stay in your home long enough to recoup what you'll pay upfront, it could be worth it. The same goes if you're trying to switch from an adjustable rate to a fixed one, or if you want to tap into your equity for a major expense. But if you're thinking short-term or unsure how long you'll keep the house, refinancing might drain money you don't need to spend. I can walk you through the math on your specific situation—there's no obligation, just clarity. Let me know if you'd like to see how refinancing could work 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
Kevin Spain
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