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Mortgage Market Update
My Mortgage Company
Green River Capital
Tuesday, November 3, 2026
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Refinancing isn't just about lower rates |
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Every week I work with homeowners wondering if they should refinance. Here's what I've learned about when it actually makes financial sense.
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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 does refinancing actually make sense?
A lot of people think about refinancing only when rates drop significantly, but that's not the full picture. Refinancing can make sense for reasons beyond chasing lower rates—like switching from an adjustable to a fixed rate, shortening your loan term to build equity faster, or tapping into your home's equity for a major expense. The key is weighing what you'd pay in closing costs against what you'd actually save over time. Some refinances pay for themselves in months; others take years. The math is personal to your situation, which is why it's worth a real conversation before you decide. I can walk you through whether refinancing makes sense for you right now. Let's talk through whether refinancing fits your goals—reach out and we can run the numbers 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 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
Green River Capital
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