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Mortgage Market Update
My Mortgage Company
Jose Ramos
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Hi there — this week I want to tackle a question I hear often: should I refinance? The answer is almost never a simple yes or no.
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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 to refinance (and when to wait)
Refinancing isn't a yes-or-no question — it depends on your situation. Some borrowers benefit from refinancing when rates drop or their credit improves. Others find it makes sense to stay put, even if rates move. The math changes based on how long you plan to stay in your home, what you'd owe upfront, and how your loan terms would shift. I see people jump on refinancing without running the numbers, and I also see people hold back when a refi would genuinely help them. The key is looking at your specific timeline and goals, not just the headlines about rates. If you're wondering whether a refi makes sense for you, let's talk through your numbers — no obligation.
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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
Jose Ramos
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