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Mortgage Market Update
My Mortgage Company
Quyen Nguyen — Quyen T Nguyen
Tuesday, November 3, 2026
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Does refinancing work for you right now? |
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Some weeks the question isn't whether rates moved, but whether making a move makes sense. Let's dig in.
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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 refinancing actually makes sense
Refinancing isn't a one-size-fits-all move, and it's not always the right call just because rates shift. The real question is whether the benefits you'd gain—lower monthly payments, a shorter loan term, or access to cash—outweigh the costs of refinancing itself. Some borrowers see a meaningful improvement in their situation; others find the math doesn't work out yet. That's why it pays to look at your specific numbers rather than chase every rate movement you hear about. If you've been wondering whether now could be the right time for you, I'm happy to walk through what refinancing would actually look like in your case—no pressure, just clarity. Let's talk through whether refinancing makes sense for your situation.
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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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