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Mortgage Market Update
My Mortgage Company
Tera Taylor
Tuesday, November 3, 2026
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Does refinancing work for you? |
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Sometimes the smartest financial move is doing nothing. Other times, a change could save you real money.
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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 or your situation changes. The real question isn't whether you can refinance—it's whether the benefits justify the costs and time involved. Some borrowers see a genuine advantage: lower payments, shorter loan terms, or moving out of an adjustable rate. Others find the numbers don't work in their favor once closing costs are factored in. There's also the matter of how long you plan to stay in your home. I can help you run the numbers on your specific loan to see what refinancing would actually mean for your finances. It's worth a conversation before you decide. Let's talk through whether refinancing makes sense for your situation right now.
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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
Tera Taylor
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