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Mortgage Market Update
Bill Szlinis
Bill Szlinis
Tuesday, November 3, 2026
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Does refinancing work for you right now? |
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Not every rate move calls for action. Here's how to know if refinancing is worth considering.
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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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Refinance Reality
When refinancing actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates have moved—it's whether the benefit outweighs what you'll pay to switch loans. That means looking at your timeline, your current rate, and the costs involved. If you're planning to stay in your home long enough to recoup those expenses, refinancing can lower your payment or shorten your loan term. But if you're on the fence about staying put, the math might not work in your favor. I help borrowers run the actual numbers so the decision is clear, not just hopeful. Let's talk through whether it makes sense for your 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 Bill Szlinis team any time and we'll walk you through your options. |
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