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Mortgage Market Update
Omar Navarro
Omar Navarro
Tuesday, November 3, 2026
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Refinancing might make sense—here's why |
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Not every refinance opportunity is worth taking. I want to help you figure out if this one is right for your goals.
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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 always the right move—even when rates look good. The real question is whether the savings over time outweigh the costs to close a new loan. Some borrowers break even in a few years and come out ahead; others never do, depending on how long they plan to stay in the home and what their current loan looks like. If you've been in your house a while, you may have built equity that could work in your favor. The best way to know if refinancing makes sense for your situation is to run the actual numbers with someone who knows your file. I can walk you through it without any pressure—just honest math. Let's talk through whether refinancing could work 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 Omar Navarro team any time and we'll walk you through your options. |
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