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Mortgage Market Update
Kris Rich
Kristen Rich
Tuesday, November 3, 2026
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Does refinancing make sense for you right now? |
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Hi there. I've had several conversations this week about refinancing, and I realized there's a lot of confusion out there about when it's actually worth doing.
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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 homeowners ask me whether they should refinance, and the honest answer is: it depends on your situation. Refinancing isn't always the right move, even when rates shift. The key is looking at how long you plan to stay in your home, what your current loan terms are, and whether the new terms actually improve your financial position over time. Sometimes keeping your existing loan is the smarter choice. I can walk through the numbers with you—no pressure, just clarity. If you've been wondering whether a refinance could work in your favor, let's talk through it together. Reach out if you'd like to explore whether refinancing might make sense 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 Kris Rich team any time and we'll walk you through your options. |
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