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Mortgage Market Update
Scott Campbell
Scott Campbell
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Sometimes the smartest move is knowing when not to move. This week I want to walk you through how to spot a refinance that actually works for you.
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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 Strategy
When refinancing costs more than it saves
Not every refinance makes sense, even when rates look attractive. The real question isn't whether rates have moved—it's whether the long-term benefit outweighs what you'll pay upfront to make the switch. Some borrowers save thousands over time; others break even or come out behind, depending on how long they stay in the home and which loan program they choose. I've seen people rush into a refinance without running the full picture, only to realize later they would have been better off waiting or staying put. That's why I always recommend we sit down and do the math together—not on a napkin, but with real numbers tied to your actual timeline and goals. The only way to know if refinancing is right for you is to look at your specific situation. Let's talk through whether a refinance makes sense for your home and your future.
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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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