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Mortgage Market Update
My Mortgage Company
Sean Rigsby
Tuesday, November 3, 2026
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Is refinancing actually worth it for you? |
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Sometimes the smartest financial move is doing nothing. Other times, it's taking action—but only if the numbers back it up.
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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
Why your old rate doesn't tell the whole story
If you locked in a mortgage rate a few years ago, you might be wondering whether refinancing makes sense now. The answer isn't just about whether rates have moved—it's about whether the math works for your specific situation. Refinancing means closing costs, a new loan term, and time. Some borrowers break even in months; others take years. The right move depends on how long you plan to stay in your home, what you owe, and what your new terms would look like. That's why a real conversation with me beats guessing. I can show you the actual numbers and help you decide whether refinancing is worth it. Let's talk through your refinance options—reach out whenever you're ready.
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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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