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Mortgage Market Update
Cait Haugen
Cait Haugen
Tuesday, November 3, 2026
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When should you actually refinance? |
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Hi there—this week I want to tackle a question that comes up a lot in my office: when is refinancing worth it? Let me break it down for you.
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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 does refinancing actually make sense?
I get asked this often, and the answer isn't always obvious. Refinancing can lower your monthly payment, shorten your loan term, or help you tap into home equity—but only if the numbers work for your situation. The key is understanding what you're trying to accomplish. Are you looking to reduce what you pay each month? Switch from adjustable to fixed? Access cash for a home project or debt payoff? Each goal points toward a different strategy, and sometimes refinancing isn't the right move at all. That's why an honest conversation about your goals matters more than chasing the latest rate drop. If you've been wondering whether refinancing could help your bottom line, I'd love to walk through your options with you—no pressure, just clarity. Let's talk about whether refinancing makes sense 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 Cait Haugen team any time and we'll walk you through your options. |
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