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Mortgage Market Update
Torben Berndt
Torben Berndt
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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Sometimes the best financial move isn't obvious. This week, I'm breaking down refinancing—when it's worth considering and when it might not be.
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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
When does refinancing actually make sense?
A lot of homeowners wonder if they should refinance, but the answer isn't the same for everyone. Refinancing can be a smart move if your situation has changed—maybe your credit has improved, rates have shifted in your favor, or you want to adjust your loan term. But it also comes with costs and a new closing process, so it's worth looking at the math for your specific loan and timeline. The key is understanding what you're trying to accomplish: lower payments, a shorter payoff window, switching loan types, or tapping your home equity. I can help you figure out whether the numbers work in your favor right now. Let's talk through whether a refinance makes sense for your situation.
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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 Torben Berndt team any time and we'll walk you through your options. |
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