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Mortgage Market Update
Ross Osten
Ross Osten
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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Refinancing gets talked about a lot, but it's not always the right move. Here's how to tell if it might be worth exploring for you.
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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 actually makes sense
Refinancing sounds like it should always be an option, but the truth is it only makes financial sense in certain situations. The main question isn't whether rates have dropped—it's whether the cost to refinance will be recovered by your monthly savings before you plan to move or pay off the loan. Beyond the numbers, refinancing can also be useful if you want to shift from an adjustable rate to a fixed one, tap into your home's equity, or shorten your loan term. But those reasons only matter if the numbers work for your specific situation. I'd love to walk through whether it might benefit you. Let's talk through your refinancing options—there's no obligation, and it usually takes just a few minutes.
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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 Ross Osten team any time and we'll walk you through your options. |
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