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Mortgage Market Update
My Mortgage Company
Guy Campbell
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Hi there. This week I want to tackle a question I hear often: when is the right time to refinance?
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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 Strategy
When does refinancing actually make sense?
A lot of homeowners ask me whether they should refinance, and my answer is always: it depends. Refinancing makes the most sense when your financial picture has genuinely changed—either rates have moved enough to lower your payment meaningfully, your credit has improved since you first borrowed, you've built substantial equity, or you want to change the length or type of your loan. The catch is that refinancing comes with closing costs, so there's a real timeline before you break even. That's why a careful look at your specific situation matters more than chasing rates week to week. I'm here to help you figure out if it pencils out for you. Let's talk through 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 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
Guy Campbell
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