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Mortgage Market Update
My Mortgage Company
FullyScale Sandbox
Tuesday, November 3, 2026
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Should you refinance? A few reasons to look |
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I get asked about refinancing often, and it's usually by someone who isn't quite sure whether it's right for them. Let me walk you through how to think about 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 Basics
When it makes sense to look at your loan again
Refinancing gets a lot of attention, but it's not always the right move. The real question isn't whether rates have moved—it's whether refinancing solves a specific problem you're facing. Maybe you want to shorten your loan term, tap into your home's equity, or move from an adjustable rate to a fixed one. Some borrowers refinance to lower their monthly payment; others do it to pay off their loan faster. Each reason has different math behind it. The best time to explore refinancing is when you have a clear goal in mind, not just a vague sense that you should. That's when I can show you whether the numbers actually work in your favor, given your situation and how long you plan to stay in your home. If you've been wondering whether refinancing makes sense for you, let's talk through your specific goals.
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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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