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Mortgage Market Update
My Mortgage Company
Kimberly Kemppainen
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Some weeks the question I hear most is whether someone should refinance. Here's how to think about it clearly.
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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 does refinancing actually make sense?
Refinancing sounds great in theory, but it only works when the math lines up for your situation. The real question isn't whether rates have moved—it's whether the cost to refinance (closing costs, time, paperwork) will actually save you money over the time you plan to stay in your home. Some people break even in a few months; others might take years. It depends on your current loan, how long you're staying put, and what rates look like today. That's why a straightforward conversation beats a generic calculator. I can walk through your numbers and tell you straight whether it makes sense for you right now, or if waiting might be smarter. Let's talk through it. Reach out and we can look at whether refinancing pencils out for your home.
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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
Kimberly Kemppainen
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