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Mortgage Market Update
Kenna Siders
Kenna Siders
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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A lot of you have been asking whether now is a good time to refinance. The answer isn't always yes—even when rates move favorably.
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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 Basics
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 benefit you'd gain over time justifies the cost of refinancing—and how long you plan to stay in your home. If you're thinking about moving in a few years, the math might not work out. But if you're settled in, refinancing could lower your payment, shorten your loan term, or help you tap into your home's equity for a major project. The key is running the numbers on your specific situation, not just chasing a rate drop. I'd love to walk you through whether it makes sense for you. Reach out and we can talk through 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 Kenna Siders team any time and we'll walk you through your options. |
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