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Mortgage Market Update
My Mortgage Company
Greg Lomba
Tuesday, November 3, 2026
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Should you refinance right now? |
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Not every rate move calls for a refinance. But knowing when one might help is 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 Strategy
When does it make sense to refinance?
Refinancing isn't always the right move, even when rates shift. The decision depends on how long you plan to stay in your home, what your current loan terms are, and how much you've paid down so far. Some borrowers see real value in refinancing; others find the timing just isn't there yet. The best approach is to run the actual numbers on your specific situation rather than make assumptions. If you've been wondering whether now is your moment, I'd be happy to walk through the math with you—no obligation, just clarity. Let's talk through whether refinancing makes sense for your goals.
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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
Greg Lomba
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