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Mortgage Market Update
My Mortgage Company
Ashley Turner - For Deletion
Tuesday, November 3, 2026
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Should you refinance right now? |
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It's easy to hear 'refinance' and assume it's always a smart move. The truth is more nuanced, and it depends on your specific goals.
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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 a one-size-fits-all move. It can make real sense if rates drop enough to lower your payment or shorten your loan term, or if you've built equity and want to tap it for something important. But it also comes with closing costs and a reset of your loan timeline, so the math has to work in your favor. The key is understanding your own situation: how long you plan to stay in the home, what you're trying to accomplish, and whether the benefit outweighs the cost. I run this analysis for borrowers all the time, and it usually takes just a conversation or two to get clarity. If you've been wondering whether now is your moment to refinance, that's exactly what I'm here to help you figure out. Let's talk through whether refinancing is right for you — just reach out.
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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
Ashley Turner - For Deletion
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