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Mortgage Market Update
Robin Morton
Robin C. Morton
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Hi there. This week I want to tackle a question I hear often: when is the right time to refinance?
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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 Readiness
When does refinancing actually make sense?
Refinancing isn't always the right move—even when rates look appealing. The real question is whether the long-term benefit outweighs your costs to refinance. A lower rate might sound great, but you also need to think about how long you plan to stay in your home and whether closing costs fit your budget. Sometimes staying put makes more sense. That's why it helps to run the numbers with someone who can walk you through what refinancing would actually mean for your situation, not just sell you on the idea. Let's talk through whether refinancing fits your goals 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 Robin Morton team any time and we'll walk you through your options. |
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