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Mortgage Market Update
My Mortgage Company
Michelle Knight
Tuesday, November 3, 2026
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Should you refinance? Let's do the math |
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I hear from a lot of homeowners who wonder whether they should refinance, but aren't sure how to decide. Here's what I've learned about getting a real answer.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates have dropped—it's whether the long-term benefit outweighs the costs and time involved in closing a new loan. Some borrowers break even in a few years; others never do, depending on how long they plan to stay in the home. I help clients run the actual numbers instead of chasing headlines. If you've been wondering whether now is your moment to refinance, or if you're just curious how the math works for your situation, I'd like to walk through it with you. There's no obligation—just clarity. Reach out and I can give you a straight answer 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 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
Michelle Knight
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