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Mortgage Market Update
My Mortgage Company
Darius Bryant — Darius Bryant
Tuesday, November 3, 2026
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Does refinancing actually help your situation? |
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Sometimes a rate change makes refinancing worth it. Sometimes it doesn't. Here's how to tell the difference.
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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 shift. The real question isn't whether rates are lower—it's whether the math works for your situation. Some people benefit from a lower rate or shorter loan term. Others might be refinancing too late in their loan to recoup the closing costs, or they might be stretching the loan back out when they're actually closer to payoff. The key is looking at your timeline: how long do you plan to stay in the home? What are your actual costs to refinance? How much would your payment actually change? These details matter more than rate movement alone. If you've been wondering whether refinancing could help your specific situation, I'd be happy to walk through the numbers with you. Let's talk through whether refinancing makes sense 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
Darius Bryant — Darius Bryant
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