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Mortgage Market Update
Tarrell Stansberry
Tarrell Stansberry
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Hi there. I wanted to share some straightforward thinking about refinancing—what it is, when it might help, and how to know if it's worth exploring.
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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 take advantage of better terms or access cash you've built up in your home. It's not right for everyone, but it's worth understanding when it might make sense for you. The main reasons people refinance are lower rates, shorter loan terms, switching from adjustable to fixed rates, or pulling out equity for home improvements or other goals. The key is doing the math: refinancing has costs, so you want to be confident the benefits will outweigh them over time. If you're wondering whether it could work for your situation, I'd be happy to walk through the numbers with you—no obligation. Let's talk about whether refinancing makes sense for you right now.
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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 Tarrell Stansberry team any time and we'll walk you through your options. |
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