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Mortgage Market Update
My Mortgage Company
Emily Burris
Tuesday, November 3, 2026
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Does refinancing make sense for your loan? |
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One of the questions I hear most often is whether it's time to refinance. The answer is almost always: it depends.
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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 Reality
When refinancing actually makes sense
Refinancing isn't always the right move, even when rates drop. The real question is whether the savings outweigh what you'll pay to close a new loan. Some borrowers benefit right away; others need to stay put longer to break even. It depends on your timeline, how long you plan to own the home, and the closing costs involved. If you've been wondering whether now is your moment to refinance, that's worth a real conversation. I can walk through the numbers specific to your situation and show you what the math actually says—not what sounds good in theory. If you're curious whether refinancing could work for you, let's talk through it.
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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
Emily Burris
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