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Mortgage Market Update
My Mortgage Company
Luis Treto
Tuesday, November 3, 2026
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When does refinancing actually pay off? |
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Refinancing can be a powerful tool for homeowners, but it's not one-size-fits-all. Here's what you need to know before you decide.
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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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Refinance Math
When refinancing actually makes sense
Refinancing isn't always the right move, even when rates look attractive. The real question is whether your savings outweigh the cost of closing a new loan. If you're planning to stay in your home for several more years, a refi can free up monthly cash or shorten your payoff timeline. But if you're thinking of moving soon, the math might not work in your favor. The break-even point depends on your individual situation—how long you plan to keep the home, what you owe, and what you're hoping to achieve. That's why it's worth running the numbers before you commit. I'm happy to walk through what a refinance would look like for you, with no pressure or obligation. Let's talk through whether refinancing makes sense for 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
Luis Treto
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