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Mortgage Market Update
Matthew Chauncey
Matthew Chauncey
Tuesday, November 3, 2026
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Does refinancing make sense for your loan? |
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Not every rate move calls for action. Let me help you figure out if refinancing is worth 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
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates have moved—it's whether the math works for your specific situation. Some people save money by refinancing; others break even or come out behind. It depends on how long you plan to stay in your home, what you'd pay to refinance, and how much your monthly payment would actually drop. The best refinances are the ones where the benefits outweigh the costs over time. If you've been wondering whether it's worth exploring, I can run the numbers with you and show you exactly what refinancing would look like in your case. Let's 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 Matthew Chauncey team any time and we'll walk you through your options. |
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