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Mortgage Market Update
Dave Jenks
Dave Jenks
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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There's a lot of noise out there about refinancing. I want to cut through it and show you what actually matters when you're deciding whether to do it.
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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 Reality
When refinancing actually makes sense
Refinancing isn't automatic—it only pays off if the math works for your situation. The main reasons to consider it: your rate environment has shifted enough that your new payment would drop meaningfully, you want to shorten your loan term without stretching your budget too thin, or you're looking to tap home equity for a major expense. The catch is that refinancing has costs, so you need to stay long enough in the home to recoup them. It's not a one-size-fits-all move, which is why I always tell clients to run the numbers before deciding. Every borrower's timeline and goals are different. If you're wondering whether refinancing makes sense for you right now, let's talk through 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 Dave Jenks team any time and we'll walk you through your options. |
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