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Mortgage Market Update
My Mortgage Company
Mark Monson
Tuesday, November 3, 2026
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Should you refinance right now? |
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Hi there. This week I'm answering one of the questions I hear most often from my clients.
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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
A lot of homeowners ask me whether they should refinance, and my answer is always the same: it depends on your situation. Refinancing isn't a one-size-fits-all move. The math changes based on how long you plan to stay in your home, what your current loan terms are, and where rates stand compared to your existing rate. Some people see real benefit; others find it doesn't pencil out. I walk through the specifics with every borrower because the only way to know if it's right for you is to look at your actual numbers. There's no rush and no pressure—just clarity. If you've been wondering whether now is the time, I'd be happy to run the numbers with you and show you exactly what refinancing would look like. Reach out if you'd like to explore whether refinancing makes sense for your home and your goals.
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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
Mark Monson
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