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Mortgage Market Update
My Mortgage Company
Paulina Baque Ramos
Tuesday, November 3, 2026
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Does refinancing work for your situation? |
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Refinancing can be a smart money move, but only if it actually pencils out for you. Here's what to consider before you make a change.
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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 sounds appealing—especially if rates have moved in your favor—but it's not always the right move for every borrower. The real question isn't whether you can refinance; it's whether the benefits outweigh the costs and time involved. If you've built equity in your home and your financial situation has improved, you might be in a stronger position than you were at closing. But you'll want to weigh the new loan terms, fees, and how long you plan to stay in the home. Sometimes the math works out beautifully. Sometimes you're better off leaving things alone. I'm here to walk through your specific situation and run the numbers with you—no pressure, just clarity. Let's talk through whether refinancing makes sense for you 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
Paulina Baque Ramos
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