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Mortgage Market Update
My Mortgage Company
Jon Woodard
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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One of the questions I hear most often is whether now is a good time to refinance. The answer isn't always obvious—and it's rarely just about rates.
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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
Should you refinance your mortgage?
Refinancing isn't just about chasing lower rates—it's a tool that works for different goals. Maybe you want to shorten your loan term and build equity faster. Maybe you're carrying an adjustable rate and want the stability of a fixed rate. Maybe you want to tap into your home's equity for a major expense. The right move depends on your situation, not on what rates are doing this week. I help borrowers think through the real cost and benefit of refinancing, so you can make a decision that actually fits your life. If you've been wondering whether it makes sense for you, let's talk through it. Reach out if you'd like to explore whether refinancing could work for your goals.
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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
Jon Woodard
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