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Mortgage Market Update
sherry kerr
Sherry Kerr
Tuesday, November 3, 2026
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Should you refinance right now? |
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Hi there. I get asked about refinancing often, and for good reason—when rates move, it's natural to wonder if your loan is still the best fit.
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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 does refinancing actually make sense?
Refinancing isn't always the right move—even when rates drop. The real question is whether the long-term savings justify the upfront costs and time investment. Sometimes a small rate improvement doesn't pencil out; other times it's a smart financial move that pays for itself over time. It depends on your specific loan, how long you plan to stay in the home, and where rates actually are right now. There's no one-size-fits-all answer, which is why it helps to talk through the numbers with someone who understands your situation. If you've been thinking about it, I can walk you through the actual math so you know whether it makes sense for you. Let's look at your options—reach out and we can run the numbers together.
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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 sherry kerr team any time and we'll walk you through your options. |
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