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Mortgage Market Update
My Mortgage Company
Benjamin Segovia
Tuesday, November 3, 2026
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Should you refinance right now? |
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Sometimes a borrower asks whether refinancing makes sense for them. The answer depends on your goals and timeline—not just rates.
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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
Refinancing isn't one-size-fits-all, and it's not always the right move. The real question is whether the benefits you'd gain—a lower rate, a shorter loan term, or switching from adjustable to fixed—are worth the time and cost involved. Sometimes they are. Sometimes you're better off staying put. I help borrowers think through this by looking at how long you plan to stay in your home, what your current loan looks like, and where rates are headed. The math matters, but so does your comfort level. If you've been wondering whether now is the time to explore a refinance, let's talk through your specific numbers and see what options might actually work for you. Reach out if you'd like to run the numbers on 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
Benjamin Segovia
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