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Mortgage Market Update
My Mortgage Company
Atiyah
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Hi there. This week I want to talk about one of the most common questions I get: should I refinance my mortgage?
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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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Refinance Strategy
Should you refinance? Here's how to know.
Refinancing sounds simple in theory—you replace your current loan with a new one, ideally with better terms. But the right move depends entirely on your situation: how long you plan to stay in your home, what your current rate is, and how your credit and finances look today. Some people refinance to lower their monthly payment. Others do it to shorten their loan term or tap into home equity for a major expense. The key is understanding what you're actually trying to accomplish, because refinancing isn't free—there are closing costs involved. If you're wondering whether it makes sense for you, that's exactly the conversation I'd like to have. Let's look at your numbers and see if a refinance could work in your favor. Reach out and we can run through your refinance options 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 My Mortgage Company team any time and we'll walk you through your options. |
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