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Mortgage Market Update
My Mortgage Company
Summer Britt
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Refinancing gets a lot of attention when rates move, but it's not the right choice for everyone. Here's how to know if it's worth exploring for you.
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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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Refinance Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the cost of refinancing—closing costs, appraisal, paperwork—will be worth what you save over the time you plan to stay in your home. If you're thinking about moving in a few years, refinancing might not pencil out. But if you're staying put and your situation has changed (better credit, more equity, different life needs), it could be worth a closer look. The math is different for everyone, which is why it helps to run the numbers with someone who knows your full picture. Let's talk through whether refinancing makes sense 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
Summer Britt
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