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Mortgage Market Update
Scott Campbell
Scott Campbell
Tuesday, November 3, 2026
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Should you refinance? Here's how to decide. |
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Sometimes the smartest financial move is doing nothing. Other times, a refinance can genuinely improve your situation. Let me walk you through how to tell the difference.
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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 look attractive. The real question is whether the long-term benefit outweighs the costs and effort of starting a new loan. Some borrowers refinance to lower their monthly payment or shorten their timeline. Others use it to tap equity for a major expense or switch loan types. But if you're close to paying off your current mortgage, or if your rate is already competitive, refinancing might not pencil out. I'd rather see you make a clear-eyed decision than jump at something that sounds good in a vacuum. Let's talk through your specific situation and run the actual numbers—that's how you'll know if it's worth your time. If you've been wondering whether refinancing could work for you, reach out and we'll take a closer look together.
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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 Scott Campbell team any time and we'll walk you through your options. |
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