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Mortgage Market Update
My Mortgage Company
Jesse Crawford
Tuesday, November 3, 2026
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Refinancing: does it work for you? |
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A rate drop can feel like the right time to refinance, but timing and your personal plan matter just as much as the numbers. Here's how to think about it.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit over time outweighs the cost of the new loan. Some people refinance to lower their rate and payment. Others do it to change loan length, tap equity, or switch from adjustable to fixed. But if you're planning to move soon, the savings might not materialize before you leave. That's why it helps to talk through your timeline and goals before pulling the trigger. I can walk you through the numbers specific to your situation and help you figure out if it pencils out for you. Let's discuss whether refinancing could work for your goals—reach out anytime.
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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
Jesse Crawford
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