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Mortgage Market Update
My Mortgage Company
Brandon Shelton
Tuesday, November 3, 2026
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Should you refinance? Let's find out. |
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Not every homeowner should refinance, and not every borrower should do it right now. But if you've been curious about your options, here's what matters most.
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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 it make sense to refinance?
Refinancing isn't one-size-fits-all. Some people refinance to lower their rate and reduce monthly payments. Others use it to tap into home equity for a large expense or to switch from an adjustable rate to a fixed one for peace of mind. The catch: refinancing involves costs and a new loan application, so it only pencils out if the benefit outweighs what you'll pay. That math is different for every borrower and every situation. If you're wondering whether refinancing might work for you—or whether now is the right time—I'd love to walk through the numbers. Let's talk about what makes sense for your specific goals. Reach out if you'd like to explore whether refinancing could work for your situation.
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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
Brandon Shelton
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