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Mortgage Market Update
My Mortgage Company
Corey Riggs
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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I get asked about refinancing all the time, and the honest answer depends entirely on your situation. Let me break down what actually matters when you're thinking about it.
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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 actually makes sense
Refinancing gets a lot of attention, but it's not the right move for everyone or every situation. The real question isn't whether rates have moved—it's whether refinancing solves a specific problem you have right now. Maybe you're carrying a higher rate than today's market and want to lower your payment. Maybe you're ready to shorten your loan term. Or maybe you're sitting on equity and need access to cash for something important. Before you decide, it helps to look at the numbers: how long you plan to stay in the home, what your costs would be, and what you'd actually save. Sometimes waiting makes more sense. Sometimes acting now does. I can walk you through your situation and help you figure out which path fits your goals. If you're wondering whether refinancing is worth exploring, let's talk through your options.
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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
Corey Riggs
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