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Mortgage Market Update
My Mortgage Company
Benjamin Segovia
Tuesday, November 3, 2026
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Refinancing isn't just about rates |
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Hi there. This week I want to tackle a topic that comes up a lot, but often gets oversimplified.
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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 makes sense for your situation
A lot of people think refinancing is only about chasing lower rates, but that's just one reason to do it. You might refinance to shorten your loan term, switch from an adjustable to a fixed rate, tap your home's equity for a major expense, or even consolidate debt at a better rate. The right move depends entirely on your goals and where you stand with your current loan. The key is running the real numbers—when you refinance, you typically start a new loan, so closing costs matter and the math has to pencil out for your timeline. If you've been wondering whether it's worth looking into, I'd be happy to walk through your options with no pressure. Let's talk through whether refinancing could work for you.
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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
Benjamin Segovia
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