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Mortgage Market Update
My Mortgage Company
Quyen Nguyen — Quyen T Nguyen
Tuesday, November 3, 2026
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Should you refinance? Here's how to tell. |
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One of the most common questions I hear is whether homeowners should refinance their loan. Let's break down what actually matters when you're thinking about it.
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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 Basics
When does refinancing actually make sense?
A lot of homeowners ask me whether they should refinance, and the answer usually comes down to a few simple questions: How long do you plan to stay in your home? What would your new payment look like? Are you trying to pay off your loan faster, or free up monthly cash flow? Refinancing isn't always the right move—sometimes staying put makes more financial sense. But if you're curious whether it could work for your situation, it's worth having a conversation. I can walk you through the basics, show you what your options might look like, and help you decide if it's worth exploring further. If you'd like to talk through whether refinancing could help you, let me know—I'm here to help.
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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
Quyen Nguyen — Quyen T Nguyen
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