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Mortgage Market Update
My Mortgage Company
Justin Greenberg
Tuesday, November 3, 2026
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Should you actually refinance right now? |
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Rates moving can tempt us to act fast, but the smartest borrowers pause and ask the right questions first. Here's what really matters when you're thinking about a refi.
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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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Refinance Reality
When does refinancing actually make sense?
Refinancing isn't always the answer, even when rates move in your favor. The real question is whether the math works for your situation. Sometimes a rate drop isn't large enough to offset closing costs, or you may not be staying in the home long enough to recover that investment. Other times, refinancing can genuinely lower your payment, free up cash flow, or shorten your loan term. The key is running the actual numbers based on your specific loan, timeline, and goals—not just chasing a rate that looks good on paper. I'm happy to walk through the scenario with you and show you what refinancing would really look like in your pocket. Curious whether it makes sense for you? Let's talk through 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
Justin Greenberg
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