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Mortgage Market Update
My Mortgage Company
Edge Home Finance, LLC
Tuesday, November 3, 2026
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When refinancing actually makes sense |
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Hi there,
One of the most common questions I hear is about refinancing—when to do it, and whether it's worth 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 means replacing your current mortgage with a new one—usually to lower your payment, shorten your loan term, or tap into home equity. It's not the right move for everyone, and the answer depends on your situation: how long you plan to stay in your home, what your current rate and loan balance are, and what new rates look like compared to where you are today. Some people refinance multiple times over the years as their circumstances change. Others never do. The key is understanding your own numbers and goals, not chasing someone else's timeline. I'd be happy to walk through what a refinance might look like for you, no pressure—just information to help you decide. Let's talk through whether refinancing makes sense in your case.
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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
Edge Home Finance, LLC
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