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Mortgage Market Update
Collin Johnson
Collin Johnson
Tuesday, November 3, 2026
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Does refinancing work for your situation? |
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A lot of folks ask me if they should refinance their home loan. The answer depends on your numbers, not the headlines.
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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 Basics
When refinancing actually makes sense
Refinancing isn't right for everyone, and it's not something you need to rush into. The real question is whether the benefits—a lower payment, shorter loan term, or getting out of an adjustable rate—outweigh the costs and time involved. Sometimes staying put is the smarter move, even when rates dip. I work with borrowers to run the actual numbers on their specific situation so we can see what makes sense, not what sounds good in theory. If you've been wondering whether now is the right time for you, I'm happy to walk through it together with no pressure. Let's talk through whether refinancing 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 Collin Johnson team any time and we'll walk you through your options. |
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