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Mortgage Market Update
Cait Haugen
Cait Haugen
Tuesday, November 3, 2026
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Should you refinance right now? |
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Hi there. This week I'm talking about one of the questions I hear most often: whether it makes sense to refinance your mortgage.
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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 for your situation
Refinancing isn't a one-size-fits-all move—it works best when your personal financial picture has changed in a meaningful way. Maybe your credit has improved, your home has gained value, or you're in a position to pay off your loan faster. The key is weighing whether the benefits (lower payments, shorter term, cash access) justify the time and cost involved. Even small changes in your circumstances can tip the scales. If you've been wondering whether now is the right time for you, it's worth a conversation. I can walk you through your specific numbers and help you figure out if refinancing would actually put you ahead. Reach out if you'd like to explore 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 Cait Haugen team any time and we'll walk you through your options. |
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