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Mortgage Market Update
My Mortgage Company
The Loan Lady Club
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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Refinancing is one of those financial moves that sounds smart in theory but needs to make sense in your actual numbers. Here's how to think about 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 Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates dip or your situation changes. The real question is whether the benefit you'd gain—lower payments, shorter loan term, switching from adjustable to fixed—justifies the cost and effort of refinancing. Sometimes it does. Sometimes you're better off staying put and building equity in your current loan. I help borrowers run the actual numbers so they can decide with confidence, not guesswork. If you've been wondering whether it's worth a conversation, I'm happy to take a quick look at your situation and give you honest feedback. There's no obligation, and you'll walk away knowing exactly where you stand. Let me know if you'd like to explore whether refinancing could work for you.
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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
The Loan Lady Club
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