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Mortgage Market Update
My Mortgage Company
Jeffrey Diaz
Tuesday, November 3, 2026
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Should you refinance right now? |
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Rates move all the time, and when they do, homeowners naturally start thinking about refinancing. But lower rates alone don't always mean it's the right time.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates are lower—it's whether a new loan saves you money over time once you factor in closing costs and how long you plan to stay in your home. Some people refinance to shorten their loan term or switch from adjustable to fixed rates. Others use it to tap into equity for repairs or debt payoff. But if you're planning to sell or move within a few years, refinancing may not pay off. I help clients do the math so they see the real picture, not just the headline rate. Understanding your timeline and goals makes all the difference. If you're wondering whether a refinance makes sense for your situation, let's talk through 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 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
Jeffrey Diaz
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