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Mortgage Market Update
My Mortgage Company
Golden Summit Mortgage Group
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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One of the most common questions I get is whether it's time to refinance. The answer isn't always obvious, so I wanted to walk you through how to think about it.
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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
When refinancing actually makes sense
A lot of people ask me, "Should I refinance?" The honest answer is: it depends on your situation, not just on rates moving. Refinancing makes sense when the benefit of a lower payment or shorter loan term outweighs the cost of closing the new loan. If you've built equity, improved your credit since you bought, or your financial picture has changed, it might be worth a conversation. But if you're planning to move in a few years, the math might not work in your favor. The best way to know is to run the numbers on your specific loan and timeline. Let's talk through whether refinancing could work for you—no obligation.
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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
Golden Summit Mortgage Group
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