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Mortgage Market Update
My Mortgage Company
Cesar Gastiaburu
Tuesday, November 3, 2026
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Does refinancing actually work in your favor? |
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Hey there. Rates move all the time, and I often hear from past clients wondering if now is the moment to refinance. Let me share what I actually look at when I'm evaluating a refi for someone.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates have moved—it's whether a new loan saves you money over the time you plan to stay in your home. If you're refinancing into a longer term, your payment might drop but you could pay more interest overall. If you're planning to move or sell soon, closing costs might never pay for themselves. The best refinance candidates are usually people who can shorten their loan term, lower their rate significantly, or switch from an adjustable to a fixed rate. I run these numbers all the time, and sometimes the answer is simply to hold steady.
If you're curious whether refinancing could work for your situation, I'm happy to walk through the math with you—no obligation. Let's talk through whether refinancing makes sense for you.
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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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