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Mortgage Market Update
My Mortgage Company
Jeff Buchweitz
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Hi, I want to touch on a question I hear often: is now a good time to refinance? The answer isn't one-size-fits-all, and I'd like to walk you through how to think 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 Strategy
When does refinancing actually make sense?
A lot of homeowners ask me whether they should refinance, and the honest answer is: it depends on your situation, not just the rates. Refinancing makes sense when the benefit of your new terms outweighs the cost of closing. That might mean a lower rate that saves you money over time, or switching loan types to build equity faster or free up cash flow. But it's not automatic—sometimes staying put is the smarter move. The right time to refinance is different for everyone, and it's worth running the numbers on your specific loan and timeline before you decide. I'm here to help you figure out whether it makes sense for you. Let's talk through whether refinancing could work 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
Jeff Buchweitz
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