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Mortgage Market Update
My Mortgage Company
Anthony Rahimi
Tuesday, November 3, 2026
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Is refinancing worth it for you right now? |
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Hello,
Refinancing comes up a lot in conversations—but what actually makes it worth doing?
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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
Should you refinance? Here's what to consider.
Refinancing isn't right for everyone, but it's worth understanding when it might make sense for you. The main reason people refinance is to lower their monthly payment when rates drop—but that's not the only reason. Some folks refinance to switch from a variable to a fixed rate, shorten their loan term, or tap into home equity for a major expense. Before you move forward, think about how long you plan to stay in your home and whether the benefits outweigh the costs involved. Every situation is different, which is why it helps to talk through your specific numbers with someone who knows your financial picture. If you've been wondering whether refinancing could work for you, I'd love to walk through the details. There's no obligation—just clarity. Let's talk about whether refinancing makes sense in 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
Anthony Rahimi
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