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Mortgage Market Update
My Mortgage Company
Charlie Flohr
Tuesday, November 3, 2026
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Should you refinance right now? |
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Some of the best financial moves come from asking the right questions at the right time. This week, I want to talk about refinancing—and help you figure out if it's worth a closer look.
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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 it makes sense to refinance your mortgage
Refinancing isn't just about chasing a lower rate—it's about asking whether a new loan serves your bigger financial picture. Maybe you want to shorten your loan term, pull cash out for home improvements or debt consolidation, or switch from an adjustable rate to a fixed one for peace of mind. The math matters, but so does your timeline. If you're planning to stay in your home for several more years, refinancing could work in your favor. If you're thinking of selling soon, the costs probably don't make sense. The best time to explore this is before you feel pressure to act. Let's talk through your situation and see what options might be worth considering. If you're curious whether refinancing could work for you, I'd be happy to walk through the details.
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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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