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Mortgage Market Update
My Mortgage Company
Wayne Lacy
Tuesday, November 3, 2026
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Does refinancing make sense for you right now? |
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Homeownership changes over time, and so do your options. Here's what you should know about refinancing—and when to consider it.
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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 it makes sense to refinance your mortgage
Refinancing isn't always the right move, but it can be worth exploring if your situation has changed since you closed your loan. Maybe your credit score has improved, your home has gained value, or market conditions have shifted in a way that could lower your monthly payment or shorten your loan term. The key is doing the math: factoring in closing costs against the monthly savings you'd see over time. Even a modest payment reduction can add up significantly if you plan to stay in your home. I'm happy to run through the numbers with you, no obligation. If refinancing makes sense for your goals, we can discuss which program fits best. Let's talk about whether a refinance could work for you.
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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
Wayne Lacy
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