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Tuesday, November 3, 2026 |
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Mortgage Market Update
Does refinancing make sense right now?
There's a lot of talk about refinancing, but the right answer depends entirely on your circumstances. Let me break down how to think about it.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
6.88%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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 look attractive. The main question is simple: will the money you save on your monthly payment over time outweigh what you'll pay in closing costs? Some people break even in a year or two. Others need five years or more. It depends on your loan balance, how long you plan to stay in your home, and how much your rate might improve. The math is straightforward once you run the numbers—which is exactly what I'm here to help with. If you've been wondering whether it's worth looking into, let's talk through your specific situation and see what the actual picture looks like.
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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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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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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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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 Sylvia Sanders team any time and we'll walk you through your options.
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12230 El Camino Real #100 San Diego, CA 92130
760-429-4470
The Sanders Team | Military Lending Pros · Unsubscribe
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