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Mortgage Market Update
My Mortgage Company
Julio C Quintana — Julio C Quintana
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Rates move, and when they do, homeowners naturally wonder if it's time to refinance. But the right answer isn't always yes—it depends on your specifics.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift in your favor. The real question is whether the benefits outweigh the costs and how long you plan to stay in your home. Some people break even in a few months; others need years. It depends on your situation—how much you owe, your current rate, what new rates look like, and your timeline. A refinance can lower your payment, shorten your loan term, or switch from adjustable to fixed rates. But it's worth running the numbers first. I'm happy to walk through the math with you and show what a refinance would actually look like in your case, so you can make a confident decision. 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 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
Julio C Quintana — Julio C Quintana
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