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Mortgage Market Update
Thomas Abbate
Thomas Abbate
Tuesday, November 3, 2026
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Is refinancing actually worth it right now? |
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Getting rates to move in your favor is just the first step. Today I want to talk about whether acting on that opportunity is the right call for you.
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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 Timing
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term benefit outweighs what you'll pay upfront to make the change. Some people refinance to lower their payment or shorten their loan term. Others do it to tap home equity or switch loan types. Each situation is different, and the math matters. The best time to refinance is when your personal goals align with what the market is offering—not just because rates moved. If you're curious whether a refinance could work for you, I'm happy to walk through your specific numbers and help you figure out if it makes sense. Reach out if you'd like to explore whether refinancing fits your plan.
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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 Thomas Abbate team any time and we'll walk you through your options. |
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