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Mortgage Market Update
Todd Sevier
Todd Sevier
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Rates change, and so do your options. This week I want to walk you through how to think about one of the biggest decisions homeowners face.
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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
When a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term benefit outweighs the upfront cost and time. If you're thinking about it, start by understanding your breakeven point—how many months until the savings add up to cover closing costs. Your timeline matters too: if you plan to move in a few years, a refinance might not pencil out. But if you're staying put and rates have moved meaningfully in your favor, it could lower your payment or shorten your loan term. The best way to know is to run the numbers with actual figures for your situation. If you're curious whether refinancing could work for you, let's sit down and look at the real math.
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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 Todd Sevier team any time and we'll walk you through your options. |
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