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Mortgage Market Update
My Mortgage Company
Marcus Szczerbacki
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Mortgage decisions aren't one-size-fits-all, and refinancing is a perfect example. Let's look at when it actually pencils out.
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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 Readiness
When does refinancing actually make sense?
Refinancing isn't always the right move—even when rates drop. The real question is whether the benefit of a lower rate outweighs the cost of the process itself. Some people break even in a few years; others might stay in their home long enough to come out well ahead. The math depends on your situation: how much you owe, how long you plan to stay, and what your current rate actually is compared to what's available now. That's why a straightforward conversation matters more than any online calculator. I can walk you through the numbers specific to your loan and help you see whether refinancing makes financial sense right now—or if you're better off waiting. Let's talk through whether refinancing works for 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 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
Marcus Szczerbacki
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