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Mortgage Market Update
My Mortgage Company
Rob Gallagher
Tuesday, November 3, 2026
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Is your mortgage still working for you? |
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Hi there. Sometimes the best financial moves aren't the flashy ones—they're the ones that fit your life right now.
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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
The right time to refinance isn't always obvious
A lot of people think refinancing only makes sense when rates drop noticeably. But the real decision depends on your personal situation—how long you plan to stay in your home, what your current rate and terms are, and whether you're trying to lower your payment, shorten your loan, or tap into equity. Sometimes a refinance makes sense even in a flat rate environment. The key is looking at your whole financial picture, not just the headline number. If you've been wondering whether refinancing could help your situation, I'd be happy to walk through your options with you. There's no obligation, and a conversation now might save you money down the road. Let me know if you'd like to talk through whether a refinance could work 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
Rob Gallagher
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