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Mortgage Market Update
My Mortgage Company
Justin Greenberg
Tuesday, November 3, 2026
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Does it make sense to refinance right now? |
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Rates move, and when they do, homeowners naturally wonder if they should refinance. But the answer isn't always yes—and that's worth understanding before you apply.
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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 shift. The question isn't just whether rates have changed—it's whether the change is large enough to justify the cost and time involved in a new loan. Some borrowers benefit from refinancing to lower their payment or shorten their loan term. Others are better off staying put, especially if they're close to paying off their current mortgage or recently locked in a good rate. The math depends on your specific situation: how long you plan to stay, what you'd pay in fees, and how much your payment would actually drop. I'm happy to run the numbers with you and show what refinancing would actually look like for your home and goals. If you're curious whether refinancing could work for you, let's talk through your options.
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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
Justin Greenberg
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