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Mortgage Market Update
My Mortgage Company
Griffin Stephens
Tuesday, November 3, 2026
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Refinancing worth it? Depends on your situation |
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Not every financial move makes sense for every homeowner. This week, let's look at when refinancing actually pays off—and when it's better to hold steady.
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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 (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit outweighs the cost and effort—and that answer changes based on your situation. Some homeowners see a meaningful drop in their monthly payment or total interest paid. Others find that closing costs and time make it a wash. The key is running the actual math for your loan, your timeline, and your goals. If you're wondering whether it's worth exploring for your home, I can walk you through the numbers in about ten minutes. There's no obligation—just clarity. Reach out and we can talk through whether refinancing is worth your time right now.
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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
Griffin Stephens
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