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Mortgage Market Update
My Mortgage Company
Lynnette Brown
Tuesday, November 3, 2026
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Is refinancing worth it for you? |
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Hi there. I want to talk about one of the biggest questions homeowners ask me.
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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
A lot of people ask me, 'Should I refinance?' The honest answer is: it depends on your situation. Refinancing can lower your monthly payment, shorten your loan term, or help you tap into equity—but it only works if the benefits outweigh the costs and you plan to stay in your home long enough to break even. The math is different for everyone. Some borrowers come out way ahead; others find it's not worth the effort right now. That's why it's worth having a real conversation about your goals and timeline before making a move. Let me run the numbers for your specific situation—reach out anytime and we can talk through whether it makes sense 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
Lynnette Brown
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