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Mortgage Market Update
My Mortgage Company
Stacey Elshehaby
Tuesday, November 3, 2026
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Does refinancing make sense for you right now? |
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One of the most common questions I hear is whether now is the right time to refinance. The honest answer depends on your personal circumstances, not just the rate environment.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the long-term benefit outweighs what you'll pay upfront. Your break-even point matters—that's the month when your monthly savings add up to cover your closing costs. If you plan to stay in your home past that point, refinancing could work in your favor. If you're thinking of moving or selling sooner, the math might not pencil out. The best candidates are usually borrowers with solid equity, good credit, and a realistic timeline for staying put. I'm happy to run the numbers with you and show you exactly where the break-even falls. Reach out anytime and we can review whether a refinance makes sense for your situation.
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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
Stacey Elshehaby
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