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Mortgage Market Update
My Mortgage Company
Paulina Baque Ramos
Tuesday, November 3, 2026
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Does refinancing make sense for you right now? |
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Refinancing keeps coming up in conversations, and for good reason—but it's not a one-size-fits-all move. Here's what actually determines whether it's worth doing.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the benefits outweigh the costs of the new loan—things like closing costs and how long you plan to stay in the home matter just as much as the rate itself. Some borrowers break even in a few months; others take years. I help clients run the actual numbers so they can decide with confidence, not guesswork. If you've been wondering whether now is the time to refinance, or if you're not sure how to think about the decision, let's talk through your specific situation. I can show you what the math looks like for you. Reach out if you'd like to explore whether refinancing could work in your favor.
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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
Paulina Baque Ramos
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