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Mortgage Market Update
My Mortgage Company
Brendan McKiernan
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Refinancing gets talked about a lot, but it's not always the right move. Here's how to think about it clearly.
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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 Basics
When refinancing makes sense (and when it doesn't)
A lot of people think about refinancing only when rates drop, but that's just one piece of the puzzle. Refinancing can make sense for other reasons too—shortening your loan term, switching from adjustable to fixed, or tapping into equity for a major expense. The catch is that refinancing comes with costs, so you need to weigh whether the benefit outweighs what you'll pay upfront. That's where the math matters. If you've been in your home for a while or your situation has changed since you first borrowed, it's worth a real conversation about whether refinancing fits your goals. I can walk you through the numbers and help you decide if it makes sense for you right now. Let's talk about whether refinancing could work 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
Brendan McKiernan
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