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Mortgage Market Update
My Mortgage Company
Eddie Cristerna
Tuesday, November 3, 2026
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Does it pay to refinance right now? |
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One of the most common questions I hear is whether someone should refinance their mortgage. It's a fair instinct—but the answer depends on your specific circumstances, not just the rate market.
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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 Strategy
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the money you save on your monthly payment—or the interest over time—justifies closing costs and the time involved. Some borrowers benefit immediately; others need to stay in their home long enough for savings to add up. If you've built equity, improved your credit, or your financial situation has changed since you got your loan, it might be worth a conversation. I can walk you through the numbers specific to your situation and help you decide whether it makes financial sense for you right now. Let's talk through whether a refinance pencils out for your goals.
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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
Eddie Cristerna
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