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Mortgage Market Update
My Mortgage Company
Anthony Rahimi
Tuesday, November 3, 2026
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Should you refinance? The real answer. |
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One of the most common questions I hear is whether it's time to refinance. The answer isn't always yes, even when rates move in your favor.
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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 Reality
Does refinancing make sense right now?
Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term benefit outweighs what you'd pay in closing costs and fees to make the switch. Some borrowers break even in a year or two; others need five or more years to come out ahead. The math depends on your current loan, how long you plan to stay in your home, and where rates stand today. If you've been wondering whether it's time to explore a refi, a quick conversation can help you see whether the numbers actually work in your favor—or whether waiting makes more sense. Let's run the numbers together and see what refinancing could mean 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
Anthony Rahimi
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