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Mortgage Market Update
My Mortgage Company
Lindsay Kinniburgh
Tuesday, November 3, 2026
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When should you actually refinance? |
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Some weeks bring clarity to a decision you've been sitting with. This might be one of them.
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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 does refinancing actually make sense?
Refinancing can feel like the obvious move when rates shift, but it's worth stepping back and doing the math. The real question isn't whether rates are lower—it's whether the benefit you'd gain over time covers the cost of refinancing itself. Some people break even in months; others take years. That depends on your situation: how long you plan to stay in your home, what your current rate and balance are, and what options are available to you right now. It's one of those decisions that looks different for everyone, which is why a conversation beats a guessing game. I'm here to walk through the numbers and help you see if it makes sense for you specifically. Let's talk 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 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
Lindsay Kinniburgh
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