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Mortgage Market Update
My Mortgage Company
Colin Boyse
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Hi there. I've had a few conversations this week about refinancing, and I realized not everyone knows how to think about the decision.
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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 Reality
When does refinancing actually make sense?
A lot of people assume refinancing is always worth exploring—but it's not always the right move. The real question isn't whether rates have moved; it's whether the cost of refinancing is worth what you'd save over time. Some borrowers benefit immediately. Others are better off staying put. The answer depends on your timeline, how long you plan to stay in your home, and what your current loan terms actually are. I've seen people rush into a refi only to move eighteen months later, or delay one that would've freed up monthly cash flow they genuinely needed. If you've been curious about whether it makes sense for you—or if you heard from a friend that rates had dropped and wondered if that applies to your situation—let's talk it through. No obligation, just clarity. Reach out anytime you want to know if refinancing pencils out for your specific 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
Colin Boyse
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