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Mortgage Market Update
My Mortgage Company
Adam Lewis
Tuesday, November 3, 2026
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Should you refinance your home loan? |
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Hi there. Sometimes the best move isn't buying or selling—it's taking another look at the loan you already have.
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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 Readiness
Your mortgage doesn't have to stay the same forever
A lot of homeowners think their loan is locked in stone, but refinancing exists for exactly this reason: life and finances change. If your credit has improved, you've built equity, or you've simply had a change in circumstances, a refinance can be worth exploring. It might lower your monthly payment, shorten your timeline, or change the type of loan you're carrying—all without starting from scratch. The catch is that refinancing isn't free and isn't right for everyone. That's why a conversation matters. I can walk you through whether a refinance makes sense for your specific situation, what the real costs look like, and whether the savings would justify the move. Reach out if you'd like to talk through 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
Adam Lewis
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