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Mortgage Market Update
My Mortgage Company
Armando Cornejo
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Sometimes a lower rate isn't reason enough to refinance. Here's what actually matters when you're weighing the decision.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question isn't whether rates have dropped—it's whether the benefit of a lower payment or shorter loan term justifies the time and cost of refinancing. Some borrowers see real savings; others break even or lose money on the deal. The math depends on how long you plan to stay in your home, your current loan balance, and what you'd pay to refinance. If you've been curious whether it might work for you, now's a good time to run the numbers with someone who can look at your specific situation. I'm happy to walk through it without any pressure or obligation. Reach out if you'd like to explore whether refinancing could benefit 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
Armando Cornejo
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