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Mortgage Market Update
My Mortgage Company
Standard Mortgage
Tuesday, November 3, 2026
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Is your loan still the right fit? |
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Hi there—I wanted to check in with something that often gets overlooked. Most people think about refinancing once in a blue moon, but your situation and the market both shift over time.
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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 Strategy
When staying put costs more than moving on
A lot of homeowners assume refinancing only makes sense if rates drop dramatically. But there are other reasons to take a fresh look at your loan—especially if your situation has changed since you first signed. Maybe your credit score has improved, your home value has climbed, or you've built enough equity to adjust your loan term or drop PMI. Even if rates haven't moved much, switching to better terms could lower your monthly payment or shorten your timeline to owning your home outright. The key is knowing what you're actually paying right now versus what's possible. I'd love to run the numbers for you and see if there's a move that makes sense. Let's talk through whether a refinance could work in your favor.
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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
Standard Mortgage
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