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Mortgage Market Update
My Mortgage Company
Charlie Flohr
Tuesday, November 3, 2026
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Is refinancing worth it for you right now? |
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Some weeks, refinancing feels like the smart move. Other times, staying put makes more sense. Here's how to tell the difference for your own 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 Readiness
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain covers the time and cost it takes to close a new loan. Some people benefit quickly; others find it makes more sense to stay put. The answer depends on your loan balance, how long you plan to stay in your home, and where rates stand versus your current rate. I help borrowers think through the real math here—not just the headline rate, but the whole picture. If you've been wondering whether now is your moment to refinance, I'd like to walk through the numbers with you and give you an honest answer. Reach out and we can look at whether refinancing makes sense for your specific situation.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Charlie Flohr
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