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Mortgage Market Update
Lenni Oh
Lenni Oh
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Not every homeowner should refinance, and that's okay. Let's figure out if you're a good candidate.
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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 Readiness
Should you refinance? Here's how to know.
Refinancing isn't one-size-fits-all, and the right move depends on your situation. Maybe rates have shifted and your payment could drop. Maybe you want to shorten your loan term, or you've built equity and want to tap it for something important. Or maybe you're solid where you are, and refinancing just doesn't make sense right now. The key is understanding what refinancing actually costs versus what you'd gain. A quick conversation can help you see whether a new loan pencils out for you, or whether staying put is the smarter play. Either way, you deserve clarity instead of guesswork. Reach out and let's run the numbers together—no obligation.
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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 Lenni Oh team any time and we'll walk you through your options. |
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