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Mortgage Market Update
My Mortgage Company
Andy Treno
Tuesday, November 3, 2026
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Does refinancing actually make sense right now? |
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Not every borrower is a refinancing candidate, and that's okay. Let me walk you through how to tell if it's worth doing.
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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 Reality
Should you refinance? Here's how to know.
Refinancing sounds simple in theory: swap your old loan for a new one at better terms. But there's a catch—closing costs and your timeline matter just as much as the rate itself. If you're planning to stay in your home for several years, a refi might make sense. If you're thinking about selling or moving soon, those upfront costs may never pay for themselves. The math is different for everyone, which is why a quick conversation can clarify whether refinancing actually puts money back in your pocket or just adds expense. Let's talk through your refinancing timeline and see if it 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
Andy Treno
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