Elisa Ryken · November 3, 2026

Does your loan still fit your life?

Mortgage Market Update

My Mortgage Company

Elisa Ryken

Tuesday, November 3, 2026

Does your loan still fit your life?

Hi there. This week I want to talk about something that doesn't get nearly enough attention: whether the loan you have now is still the best one for you.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

Rate trend

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.


Refinancing Readiness

Is your loan still working for you?

A lot of people think about refinancing only when rates drop dramatically. But the real question is simpler: does your current loan still match your situation? Maybe your credit has improved since you bought, or your home has grown in value, or your financial goals have shifted. Any of those changes might open up better options—whether that's a lower rate, a shorter term, cash-out equity, or just a loan that fits where you are now instead of where you were.

I find that borrowers who check in on their loan every couple of years often catch opportunities they'd have missed otherwise. There's no cost to exploring what's available to you. If a change makes sense, we can move forward. If it doesn't, you know you made the right call staying put. Either way, you've got clarity.

Let's talk about whether refinancing could work for you right now.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.

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.

2.

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.

3.

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.

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.

Your Mortgage Advisor

M

My Mortgage Company

Elisa Ryken

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