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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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Hi there. This week I want to cover a topic that comes up often—and one where the right answer really depends on your personal situation.
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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
When it makes sense to refinance your mortgage
A lot of people think refinancing only matters when rates drop dramatically. The truth is more nuanced. You might refinance to lower your monthly payment, shorten your loan term, tap into home equity, or switch from an adjustable rate to a fixed one. The decision depends on your situation—how long you plan to stay in the home, what you owe versus what it's worth, and your current rate compared to what's available. Sometimes the math works beautifully; sometimes it doesn't. That's why it's worth a real conversation about your specific numbers and goals. I can walk you through the pros and cons without any pressure. If you've been wondering whether refinancing makes sense for you, let's talk through it together.
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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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