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Mortgage Market Update
My Mortgage Company
Keith Collins — Keith Collins
Tuesday, November 3, 2026
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Does refinancing make sense for you right now? |
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Hello,
Not every financial move is right for every homeowner. This week I want to break down when refinancing actually pencils out.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term benefit outweighs the upfront costs and time involved. If you're planning to stay in your home, have built meaningful equity, and the numbers work in your favor, it can be worth exploring. But if you're uncertain about your timeline or your finances are tight, refinancing might create stress you don't need. The best way to know is to run the math for your specific situation—and that's exactly what I can help you do. There's no obligation, and no pressure. I'm here to give you a clear picture of whether it makes sense for you. Reach out if you'd like to talk through whether refinancing could work for your situation.
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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
Keith Collins — Keith Collins
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