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Mortgage Market Update
My Mortgage Company
Lonnie Knob
Tuesday, November 3, 2026
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Does refinancing actually pencil out for you? |
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Thinking about refinancing your mortgage? Before you decide, it helps to understand the real math behind 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 Math
When a refi makes sense (and when it doesn't)
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 will actually improve your situation. That means looking at how long you plan to stay in your home, what your new loan terms would be, and whether the monthly savings (if any) outweigh the costs to refinance. Sometimes staying put is smarter. The only way to know for sure is to run the real numbers with your specific loan and timeline. I'm happy to walk through the math with you, no pressure either way. 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 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
Lonnie Knob
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