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Mortgage Market Update
My Mortgage Company
Kevin Kryger
Tuesday, November 3, 2026
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Why refinancing might be worth reconsidering |
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Hi there—I work with a lot of homeowners who wonder if refinancing is the right move. Here's what often surprises them.
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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 Basics
Refinancing isn't just about rates
When people think about refinancing, they usually picture one thing: a lower interest rate that shrinks the monthly payment. But that's only part of the story. A refinance can also help you shorten your loan term, switch from an adjustable to a fixed rate for stability, or tap into your home's equity for a major expense. The math changes depending on your goal—and your timeline. If you're planning to stay in your home for several years, a refinance might make sense even if the rate savings seem small. But if you're thinking of moving soon, the costs might not pencil out. That's why it's worth having a real conversation about what refinancing could actually do for your situation. Let's talk about whether refinancing makes sense for you.
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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
Kevin Kryger
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