Phast Funding · November 3, 2026

Does refinancing actually make sense for you?

Mortgage Market Update

Patrick Tahmazyan

Phast Funding

Tuesday, November 3, 2026

Does refinancing actually make sense for you?

I talk with homeowners all the time who ask about refinancing. But the conversation usually starts in the wrong place.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

Rate trend

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.


Refinancing Basics

When a refi makes sense (and when it doesn't)

Refinancing gets a lot of attention, but it's not always the right move. The real question isn't whether you can refinance—it's whether refinancing will actually improve your situation. A refi makes the most sense when your financial picture has genuinely changed: maybe your credit has improved, your home has gained value, you want to shorten your loan term, or you're looking to tap equity for a major expense. On the flip side, if you're planning to move soon, just locked in a rate you're comfortable with, or closing costs would take years to recoup, refinancing might create more expense than benefit. The key is doing the math on your specific situation, not just reacting to rate news.

If you're wondering whether refinancing makes sense for you, I'm happy to run through the numbers together.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.

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.

2.

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.

3.

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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Patrick Tahmazyan team any time and we'll walk you through your options.

Your Mortgage Advisor

P

Patrick Tahmazyan

Phast Funding

patrick@phastfunding.com

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