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Mortgage Market Update
KC McKeown
KC McKeown
Tuesday, November 3, 2026
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Refinancing could help—or it might not |
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Hi there. I get asked about refinancing a lot, and I want to give you the straight story on when it's actually worth doing.
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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 right for everyone, and it's not something you should do just because rates have moved. The real question is whether the benefits—a lower monthly payment, a shorter loan term, or access to your equity—outweigh the time and costs involved in the process. Sometimes staying put with your current loan is the smarter choice, even if rates look attractive. That's why I always recommend we run the real numbers for your specific situation before you decide. There's no one-size-fits-all answer, but there are clear ways to figure out what works for you. Let me help you sort through whether refinancing makes sense for your home and 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 KC McKeown team any time and we'll walk you through your options. |
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