Mortgage Market Update

My Mortgage Company

Lisa Watson

Wednesday, November 4, 2026

Refinancing might not be for everyone

Hi there. I wanted to tackle a question I hear often this time of year—when is refinancing actually worth it?

National Mortgage Rates · November 3, 2026

Conventional 30-Year

7.17%

FHA 30-Year

6.99%

VA 30-Year

6.81%

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 does refinancing actually make sense?

Refinancing can feel tempting when rates move, but it's not always the right call. The real question isn't whether rates are lower—it's whether the money you'll save over time beats the cost of refinancing. Some people benefit right away. Others break even only after several years. And some find it makes no sense at all for their situation.

That's why it's worth a real conversation about your specific loan, timeline, and goals before you decide. If you're curious whether refinancing could work for you, I'm happy to walk through the numbers and help you see the full picture.

Let me know if you'd like to explore whether a refi makes sense for your home.

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 My Mortgage Company team any time and we'll walk you through your options.

Your Mortgage Advisor

My Mortgage Company

Lisa Watson

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