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Mortgage Market Update
My Mortgage Company
FullyScale Sandbox
Tuesday, November 3, 2026
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Does refinancing work for you right now? |
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Some weeks it seems like everyone's talking about refinancing. But a lower rate doesn't always equal a smarter decision for your wallet.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The real question is whether the long-term savings justify the upfront costs and the clock restarting on your loan. It works best when you plan to stay in your home long enough to recoup those costs through lower payments. Sometimes refinancing just a portion of your loan, or adjusting your timeline without changing the rate, can work better than a full refinance. The math is personal to your situation—how long you'll stay, what your current loan looks like, and what rates are available to you today. I can walk through the numbers with you so you see the real picture, not just the headline rate. Let's run the numbers for your specific situation and see if refinancing makes sense.
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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
FullyScale Sandbox
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