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Mortgage Market Update
My Mortgage Company
John Ludwikoski
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Hi there. With rates and your home situation always shifting, it's worth knowing when refinancing is actually worth the effort.
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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 a refi actually makes sense for your situation
Refinancing isn't right for everyone, and the decision depends on where you are in your loan and what you're trying to accomplish. Some people refinance to lower their rate and monthly payment. Others use it to tap into home equity for a major expense or to switch from an adjustable rate to a fixed one for peace of mind. The catch is that refinancing involves closing costs, which means you need to stay in your home long enough for the savings to pay back that investment. I help borrowers run the real math on whether refinancing makes financial sense for their specific goals and timeline, not just whether rates have moved. If you've wondered whether a refi is worth exploring, I'd be happy to walk through the numbers with you—no obligation. Let's talk through 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
John Ludwikoski
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