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Mortgage Market Update
My Mortgage Company
Andrea WIlson — Andrea WIlson
Tuesday, November 3, 2026
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Should you refinance your home? |
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I've had a lot of questions lately about refinancing. Here's what borrowers need to know to decide if it's right for them.
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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 Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't a one-size-fits-all move, and I want to help you think it through clearly. The idea is simple: you replace your current loan with a new one, ideally on better terms. But "better" depends on your situation. Some borrowers refinance to lower their rate, others to shorten their loan term, and some to tap equity for a major expense. The catch is that refinancing has costs—and they only make sense if you'll stay in the home long enough to recoup them. That's the real question to ask: How long do you plan to keep this house? If you're thinking about your situation and wondering whether a refinance pencils out for you, I'm here to walk through the numbers together. Reach out anytime—no obligation—and let's talk about whether refinancing fits 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
Andrea WIlson — Andrea WIlson
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