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Mortgage Market Update
Brett Stratton
Barrett Financial Group
Tuesday, November 3, 2026
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When it makes sense to refinance your mortgage |
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Hi there. With rates and life circumstances constantly shifting, I get a lot of questions about whether now is a good time to refinance. Let me break down what actually matters when making that decision.
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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 right for everyone, and it's not always about chasing a lower rate. Sometimes it makes sense to refinance into a shorter loan term, switch from adjustable to fixed, tap your home's equity for a major expense, or consolidate debt. Other times, the costs outweigh the benefit. The key is looking at your whole picture: how long you plan to stay in the home, what you're trying to accomplish, and whether the math actually works in your favor. That's where a conversation with me comes in. I can walk through your options without pressure and help you decide if it's the right move for you right now.
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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 Brett Stratton team any time and we'll walk you through your options. |
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2701 East Insight Way suite 150, Chandler, AZ 85286
+1 214-709-1484 | https://brettstratton.theradcrm.com/homepage
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