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Mortgage Market Update
Omar Navarro
Omar Navarro
Tuesday, November 3, 2026
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Refinancing isn't always about rates |
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Refinancing gets a lot of press when rates dip, but the real reason to refinance is often something else entirely. Here's what actually matters when you're thinking about it.
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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
Should you refinance? Here's how to tell.
Refinancing isn't just about chasing lower rates—it's about changing the terms of your loan to fit your life better right now. Maybe you want to shorten your payoff timeline, switch from adjustable to fixed, tap your equity, or simply adjust your monthly payment. The math works differently depending on your goal and how long you plan to stay in your home. Some moves make sense in weeks; others take years to break even. There's no one-size-fits-all answer, which is why it helps to run the actual numbers with someone who knows your full situation. I'd be happy to walk you through whether refinancing makes sense for you. Let's talk through your options—no obligation to move forward.
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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 Omar Navarro team any time and we'll walk you through your options. |
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