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Mortgage Market Update
My Mortgage Company
Jason Inmon
Tuesday, November 3, 2026
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Refinancing isn't right for everyone |
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Rates move. When they do, refinancing comes up. But moving numbers on paper isn't the same as moving your money around—and not every rate shift triggers a smart refinance.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain over time outweighs the cost of refinancing itself. Some borrowers save money within months; others need years to break even. It depends on your loan balance, how long you plan to stay in your home, your credit profile, and the rate environment. The best time to explore it is before you need it—when you can compare options calmly and run the actual numbers. If you've been wondering whether now could be your moment, I can walk through the math with you and show you what refinancing would really look like for your specific situation. Let's talk about whether refinancing makes sense for you right now.
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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
Jason Inmon
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