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Mortgage Market Update
My Mortgage Company
Matthew Rizzolo
Tuesday, November 3, 2026
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Should you refinance? It's not just about rates |
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Hi there—this week I want to tackle a question I hear a lot, and the answer is usually more nuanced than people expect.
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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 Timing
When refinancing actually makes sense
A lot of people ask me, 'Should I refinance right now?' The honest answer is that it depends on your situation—not just on rates alone. Refinancing makes sense when the benefit outweighs the cost: if your rate would drop enough to lower your payment meaningfully, or if you're switching loan types (say, from adjustable to fixed), or if you're tapping equity for something important. But refinancing also means closing costs and a new loan timeline. I help borrowers run the real math on whether a refinance pencils out for their goals, not just chase rates that move every week. If you've been wondering whether now is your moment, let's talk through it together. Reach out if you'd like me to run a quick refinance analysis 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 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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