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Mortgage Market Update
My Mortgage Company
MortgageCon
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Life changes, interest rates move, and sometimes that adds up to a refinancing opportunity. Other times, it doesn't—and that's okay too.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain covers the cost of closing the loan. That means looking at your timeline—how long you plan to stay in your home—and comparing what you'd save month-to-month against what you'd pay upfront. Sometimes the math works in your favor quickly. Other times, it takes years to break even. I help borrowers run these numbers so they can decide based on facts, not just 'rates are lower.' If you're wondering whether now's the moment for you, I'm here to walk through the details without pressure. Reach out if you'd like me to show you how the numbers would look for your situation.
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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
MortgageCon
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