|
Mortgage Market Update
My Mortgage Company
Cole Stephens
Tuesday, November 3, 2026
|
Refinancing: does it work for you? |
|
Not every homeowner should refinance, and not every market conditions makes it worthwhile. This week, let's look at how to know the difference.
|
|
National Mortgage Rates · November 2, 2026
|
Conventional 30-Year
7.13%
|
|
| |
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%233b5bdb%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
|
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.
|
|
|
|
Refinance Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't a one-size-fits-all move. Some borrowers benefit from lower rates or better loan terms; others find that closing costs and the time to break even don't pencil out for their situation. The math depends on how long you plan to stay in your home, your current loan terms, and what rates look like today compared to what you locked in. I've helped clients avoid refinancing when it wouldn't have worked for them, and I've also helped others save meaningfully by making the move at the right time. If you're wondering whether it's worth exploring, I'm happy to run the numbers with you — no obligation, just clarity. Let me know if you'd like to talk through whether refinancing could work for your situation.
|
|
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.
|
|
Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
|
|
1.
|
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.
|
|
2.
|
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.
|
|
3.
|
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.
|
|
|
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. |
|
Your Mortgage Advisor
|
|
|
My Mortgage Company
Cole Stephens
|
|
|
|
You are receiving this from Cole Stephens. Unsubscribe
|