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Mortgage Market Update
Elijah Bernhardt
Elijah Bernhardt
Tuesday, November 3, 2026
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Should you refinance right now? |
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There's a difference between rates moving and your personal refinancing making sense. Let me explain what actually matters.
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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 look attractive. The real question is whether the benefit you'd gain over time outweighs the cost of refinancing itself. This depends on how long you plan to stay in your home, your current loan terms, and what you're trying to accomplish—lower payments, shorter loan term, or cashing out equity. Some borrowers benefit immediately; others need to stay in the loan long enough to break even on closing costs. That's why a real conversation about your specific situation matters more than chasing rates alone. If you've been wondering whether now is your moment to refinance, let's talk through the numbers together. Reach out if you'd like me to walk through whether refinancing could work 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 Elijah Bernhardt team any time and we'll walk you through your options. |
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