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Mortgage Market Update
My Mortgage Company
Donivan Norton
Tuesday, November 3, 2026
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Does refinancing make sense for you right now? |
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Not every borrower should refinance, and not every time is the right time. Here's what to consider before making a move.
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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 sounds like an obvious money move, but the math only works in certain situations. It's worth considering if your credit has improved, if rates have moved meaningfully lower, or if you want to adjust your loan term. But it's not right for everyone—especially if you're planning to move soon or if closing costs would take years to recoup. The key is running the real numbers for your specific situation, not just chasing a headline rate. I can help you figure out whether a refinance actually pencils out for you, or if your money is better spent elsewhere. Worth a conversation if you've been wondering about it. Let's talk through whether refinancing makes sense for your home and timeline.
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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
Donivan Norton
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