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Mortgage Market Update
Brandy Harris
Brandy Harris
Tuesday, November 3, 2026
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Refinancing isn't for everyone—here's why |
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Hi there. Sometimes the best financial move is doing nothing. This week I want to talk about when refinancing is worth it—and when it isn't.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The math depends on how long you plan to stay in your home, what you'd pay in closing costs, and how much your payment would actually change. Some people refinance to lower their rate, others to shorten their loan term or tap equity for a project. The key is understanding your own situation—not just what rates are doing. If you've been wondering whether it's worth exploring, I can walk you through the numbers specific to your loan and help you see whether a refinance would actually put you ahead. There's no obligation to move forward, but the conversation itself is often eye-opening. Let's talk about 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 Brandy Harris team any time and we'll walk you through your options. |
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