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Mortgage Market Update
My Mortgage Company
Matthew Rizzolo
Tuesday, November 3, 2026
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Should you refinance right now? |
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Hello—this week I'm looking at one of the most common questions I hear: Is now the time to refinance my mortgage?
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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 makes sense (and when it doesn't)
Refinancing isn't automatically the right move just because rates shift. What matters is whether the benefit you'd get—lower monthly payments, a shorter loan term, or cash out of your equity—is worth the cost and time to close. Some borrowers see real savings; others find the numbers don't pencil out for their situation. The best way to know is to run the actual numbers on your loan: how long you plan to stay in the home, what your current rate and balance are, and what you'd qualify for today. That's not a one-size-fits-all answer, which is why it's worth a real conversation. I can walk you through whether a refi makes sense for you specifically. If you're curious whether refinancing could work for your situation, let's talk it through.
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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
Matthew Rizzolo
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