|
Mortgage Market Update
My Mortgage Company
Michael Hulse
Tuesday, November 3, 2026
|
Does refinancing make sense right now? |
|
One of the most common questions I hear is whether someone should refinance their home loan. Let me walk you through how to think about it.
|
|
National Mortgage Rates · November 2, 2026
|
Conventional 30-Year
7.13%
|
|
| |
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%233b5bdb%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
|
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.
|
|
|
|
Refinancing Basics
When refinancing actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates have changed—it's whether the benefit you'd gain is worth the time and cost of the process. Some people refinance to lower their monthly payment or shorten their loan term. Others use it to tap into home equity or switch from an adjustable rate to a fixed one. But if you're only looking at a tiny monthly savings, the math might not work in your favor. I recommend we sit down and run the actual numbers on your specific situation: what you'd save, what it would cost, and how long it would take to break even. That's the only way to know if it's worth doing right now. If you've been wondering whether a refinance makes sense for you, let's talk through it.
|
|
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.
|
|
Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
|
|
1.
|
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.
|
|
2.
|
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.
|
|
3.
|
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.
|
|
|
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. |
|
Your Mortgage Advisor
|
|
|
My Mortgage Company
Michael Hulse
|
|
|
|
You are receiving this from Michael Hulse. Unsubscribe
|