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Mortgage Market Update
My Mortgage Company
Arizona Filmmakers
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Not every borrower should refinance, and timing matters. Here's what to think about before you decide.
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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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Refi Timing
When it makes sense to refinance your loan
Refinancing isn't one-size-fits-all, and it's not always the right move—even when rates look attractive. The real question is whether the monthly savings or other benefits you'd gain outweigh the closing costs and time involved. Some borrowers refinance to lower their rate or shorten their loan term. Others do it to tap into home equity or switch loan types. The math is different for everyone depending on how long you plan to stay in your home and what you're trying to accomplish. If you've been wondering whether a refi makes sense for your situation, I'd like to walk through the numbers with you. Let's talk through what you're hoping to achieve and whether it's the right timing. Reach out this week and we can review whether refinancing could work for you.
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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
Arizona Filmmakers
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