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Mortgage Market Update
My Mortgage Company
Eddie Berengue — Edge Home Finance
Tuesday, November 3, 2026
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Should you refinance when rates shift? |
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Hi there—rates don't move in a straight line, and neither does your financial situation. This week I'm talking about how to know when a refinance is 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 Strategy
Does a rate drop make refinancing worth it?
A lot of people ask me: how much do rates have to fall before refinancing makes sense? The honest answer is that it depends on your situation—how long you plan to stay in your home, what you currently owe, and the costs involved in a new loan. Sometimes a modest rate improvement pencils out beautifully over time. Other times, waiting for a steeper drop is the smarter play. The math is personal, not universal. That's why it's worth having a conversation instead of guessing. I can walk through your numbers and show you what different scenarios actually look like, so you're making a decision based on facts, not hope. Let's talk through whether refinancing makes sense for your home right now.
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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
Eddie Berengue — Edge Home Finance
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