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Mortgage Market Update
My Mortgage Company
Rosemary Dao
Tuesday, November 3, 2026
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Should you refinance before rates move again? |
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One of the toughest parts of my job is helping borrowers decide whether now is the right time to refinance. Let me share what I'm seeing.
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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 Strategy
When waiting on rates actually costs you money
I talk to borrowers every week who are sitting on the sidelines, hoping rates will drop before they refinance. Here's what I've learned: sometimes the best time to move isn't when rates hit bottom—it's when your situation changes. If you've paid down your mortgage, built equity, or your credit has improved since you first borrowed, you might be leaving real money on the table by waiting. Even small monthly savings add up fast over the life of a loan. The math isn't always obvious, which is why it's worth a conversation. I can walk you through whether a refinance makes sense for you right now, or if waiting makes more sense for your specific circumstances. Let's talk through your refinance timing and see what 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
Rosemary Dao
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