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Mortgage Market Update
My Mortgage Company
Adam Felkey
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Rates move all the time, and whenever they do, refinancing questions come up. Here's how to know if it's actually worth your time.
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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 Readiness
When refinancing actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates have moved—it's whether a new loan makes financial sense for your situation. Some borrowers benefit from refinancing to lower their rate or adjust their loan term. Others are better off staying put. The math depends on how long you plan to stay in your home, what you'd owe to refinance, and how your current loan compares to what's available now. If you've been thinking about this, a conversation with me takes the guesswork out of it. I can walk you through whether a refinance pencils out for you or if holding steady is smarter. Let's look at your loan together and see if refinancing is worth exploring.
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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
Adam Felkey
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