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Mortgage Market Update
Wade Willers
Wade Willers
Tuesday, November 3, 2026
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Does refinancing make sense for you right now? |
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Hello. This week I want to tackle a question that comes up often—and one that deserves a real conversation, not a generic answer.
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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 Strategy
When does refinancing actually make sense?
I get asked this a lot, and the answer depends on your situation more than on any single number. Refinancing can lower your monthly payment, shorten your loan term, or switch from an adjustable rate to a fixed one—but it does involve costs and time. The real question is whether the benefit you're after is worth that trade-off for you personally. Some borrowers benefit within a year or two. Others find it makes sense over a longer horizon. And some decide their current loan is doing exactly what they need. I'm happy to walk through the math with you and help you see what the numbers actually look like for your home and your goals. 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 Wade Willers team any time and we'll walk you through your options. |
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