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Mortgage Market Update
Talwinder Hanjrah
Talwinder Hanjrah
Tuesday, November 3, 2026
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Should you refinance? Here's what to consider |
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Some weeks, my phone rings with borrowers asking if they should refinance. The honest answer is: it depends. Let me break down what actually matters.
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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 a one-size-fits-all move. Some borrowers benefit from it; others don't. The real question isn't whether rates have moved—it's whether the timing and your situation align. A refinance can make sense if you're planning to stay in your home long enough to recoup the costs, or if a different loan program better matches your goals now. But if you're thinking of moving soon or your current loan is already partway through its term, the math might not work in your favor. The best way to know? Run the numbers with someone who knows your specific situation. I'm happy to walk through what a refinance would look like for you, no pressure—just clarity. Let's talk about whether refinancing fits your plan right now.
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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 Talwinder Hanjrah team any time and we'll walk you through your options. |
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