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Mortgage Market Update
My Mortgage Company
Nicholas Akel — Nicholas Akel
Tuesday, November 3, 2026
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Does refinancing make sense for you right now? |
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Not every borrower benefits from refinancing, and that's okay. Here's what to consider before you decide.
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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
Should you refinance? Here's how to decide.
Refinancing isn't one-size-fits-all. Some borrowers benefit from lower rates or switching loan types. Others find the costs outweigh the savings. The math depends on how long you plan to stay in your home, your current loan terms, and what rates look like today compared to when you borrowed. If you've been curious whether refinancing makes sense for your situation, I'd be glad to walk through the numbers with you. We can look at your options without any pressure—just honest guidance on whether a move would actually help. Get in touch if you'd like to explore whether refinancing could work for you.
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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
Nicholas Akel — Nicholas Akel
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