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Mortgage Market Update
Tyler Burns
Lifestyle Lending
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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Every week I work with people trying to figure out their next move with their mortgage. This week, I'm breaking down one of the most common questions I hear.
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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 does it actually make sense to refinance?
I talk to a lot of homeowners who wonder if refinancing is right for them—and honestly, there's no one-size-fits-all answer. The decision usually comes down to how long you plan to stay in your home, what your current loan looks like, and where rates are heading. Sometimes a refinance makes perfect sense; other times, you're better off staying put. What matters most is understanding your own situation: how much you'd save, what the process costs, and whether those savings are worth it for your timeline. I'd rather give you honest guidance than push you toward something that doesn't serve you. If you've been thinking about this, let's talk through the numbers together and see if it's the right move. Reach out if you'd like to explore whether refinancing could work for you.
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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 Tyler Burns team any time and we'll walk you through your options. |
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