Mortgage Market Update

Eitan Shafshak

Tuesday, November 3, 2026

Should you refinance your mortgage?

Some weeks I hear from homeowners wondering if now is the time to refinance. Here's how to figure out if it actually makes sense for you.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Refinancing Strategy

When refinancing makes financial sense

A lot of homeowners think about refinancing only when rates drop, but the real question is whether a refinance improves your situation over time. That means looking at your loan term, how long you plan to stay in your home, and the costs involved in making the switch. Sometimes a refinance saves you money even if rates haven't moved much—especially if you're carrying a higher rate from years ago, or if your financial picture has changed since you bought. Other times, the costs of refinancing outweigh the monthly savings, and staying put makes more sense. The only way to know is to run the numbers based on your specific situation, not just the rate advertised this week.

If you've been curious whether refinancing could work for you, I'd be happy to walk through the math with no obligation.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Eitan Shafshak team any time and we'll walk you through your options.

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