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Mortgage Market Update
My Mortgage Company
James Zeller
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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Every borrower's financial picture is different, and what works for one homeowner might not work for another. This week I want to address one of the questions I hear most often.
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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 does it make sense to refinance your mortgage?
Refinancing isn't right for everyone, and the answer depends on your personal situation—not just the rate environment. Some borrowers benefit from a lower rate or shorter loan term. Others refinance to tap into home equity for major expenses, consolidate debt, or switch from an adjustable to a fixed rate for peace of mind. The catch is that refinancing has costs, so the math only works if you plan to stay in your home long enough to break even. I help borrowers run these numbers so they can decide with confidence. If you've been wondering whether refinancing could work for you, or you're not sure how to evaluate the opportunity, let's talk through it together. Send me a message and we can walk through whether refinancing makes sense 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
James Zeller
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