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Mortgage Market Update
My Mortgage Company
Ed Zuleger — Civix Project
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Rates moving can spark the refinance question. But a lower rate doesn't always mean it's time to act.
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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 Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The real question is whether the long-term benefit outweighs what you'll pay upfront to switch loans. Some people refinance to lower their rate, others to tap equity or shorten their timeline. The catch: every refinance has closing costs, and it takes time for your savings to add up enough to offset them. That's why it pays to run the numbers before you apply. If you've been in your home a while, your situation has probably shifted—new job, different goals, or changes to your credit. A quick conversation can help you figure out if refinancing actually pencils out for you, or if staying put is the smarter play. Let's talk through whether refinancing fits 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
Ed Zuleger — Civix Project
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