Mortgage Market Update

My Mortgage Company

Brian Klotz

Tuesday, November 3, 2026

Should you refinance your mortgage?

There's a lot of noise out there about refinancing, so I wanted to break down what actually matters and when it's worth considering.

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 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 can lower your payment, shorten your loan term, or help you tap into equity you've built. But it also comes with closing costs and a new loan timeline, so it's not always the right move.

The real question is whether the benefit outweighs the cost in your specific case. Maybe you've been in your home long enough that rates have shifted in your favor. Maybe your credit has improved since you bought. Or maybe life has changed and a different loan structure would serve you better. I can walk through the numbers with you and show you whether it pencils out. No obligation—just clarity.

If you're wondering whether refinancing could help, let's talk through your options.

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 My Mortgage Company team any time and we'll walk you through your options.

Your Mortgage Advisor

My Mortgage Company

Brian Klotz

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