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Mortgage Market Update
Julio Saldana
Julio Saldana
Tuesday, November 3, 2026
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Is refinancing worth it for you? |
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Homeownership brings up new money questions all the time. This week, I want to tackle one that comes up often: when is refinancing actually a smart move?
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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 actually makes sense
Refinancing isn't always the right move—even when rates look attractive. The real question is whether the long-term benefit outweighs the cost to refinance. If you're planning to stay in your home for several years, a refinance might lower your monthly payment or shorten your loan term. But if you're thinking about moving in the near term, the upfront costs may not pay off. The best approach is to run the actual numbers for your specific situation: what you'd save per month, the total cost to close, and how long until you break even. That's where a real conversation with me comes in—I can help you see whether a refinance truly works for your goals. Let's talk through whether refinancing makes sense for where you are right now.
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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 Julio Saldana team any time and we'll walk you through your options. |
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