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Mortgage Market Update
My Mortgage Company
Cesar Gastiaburu
Tuesday, November 3, 2026
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Is refinancing worth it for you right now? |
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I talk to homeowners every week about refinancing—some find it's a smart move, and others realize they're better off staying put. Here's how to think about it.
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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
When does a refi actually make sense?
Refinancing gets a lot of attention, but it's not right for everyone or every situation. The real question isn't whether rates have moved—it's whether your specific circumstances have changed in a way that refinancing would improve. Maybe your credit score has climbed since you bought. Maybe you've built meaningful equity. Maybe your life plans have shifted and a different loan term would fit better now. Or maybe rates have moved enough that the math works in your favor. Each of these is a different reason to explore a refinance. I'd rather talk through your actual situation than push you toward something that doesn't serve you. If you've been wondering whether it's worth looking into, let's have that conversation. Reach out if you'd like to explore whether refinancing makes sense for your home and finances.
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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
Cesar Gastiaburu
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