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Mortgage Market Update
My Mortgage Company
Sean Rigsby
Tuesday, November 3, 2026
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Does refinancing make sense for your home? |
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Not every rate move calls for a refinance. Here's how to tell if one might be worth your time.
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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 makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look appealing. The real question is whether your new loan pays for itself over the time you plan to stay in your home. Sometimes the closing costs and timeline don't work in your favor—especially if you're only a few years into your mortgage. Other times, refinancing can lower your payment, shorten your loan term, or help you tap equity for a major expense. The math is different for everyone. That's why it's worth a conversation before you decide. I can walk you through what refinancing would actually look like for your situation and whether it pencils out. 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
Sean Rigsby
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