Mortgage Market Update

Brent Moody

Edge Home Finance Corp

Tuesday, November 3, 2026

Does refinancing make sense for your home?

Hi there. This week I'm walking through one of the questions I hear most often—and one that deserves a real, honest answer.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Refinancing Basics

When refinancing makes sense (and when it doesn't)

Refinancing isn't always the right move, even when rates shift. The real question is whether the benefits of a new loan outweigh what it costs to get one. Some people refinance to lower their rate and monthly payment. Others do it to change loan terms—maybe switching from a 30-year to a 15-year loan, or vice versa. And some tap into home equity to fund other goals.

The catch: refinancing has costs, and it takes time to break even on them. That's why it only makes sense if you'll stay in your home long enough for the savings to kick in. I help clients run the actual math on their situation, so you know exactly what you're getting into before you commit to anything.

Let's talk through whether refinancing could work for you right now.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Brent Moody team any time and we'll walk you through your options.

Your Mortgage Advisor

Brent Moody

Edge Home Finance Corp

brent@brentmoodyloans.com

(253) 381-4067

(253) 381-4067 | www.brentmoodyloans.com

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