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Mortgage Market Update
My Mortgage Company
Colin Boyse
Tuesday, November 3, 2026
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The cost of waiting on a refinance |
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Hi there. This week I want to address something I hear often from homeowners: the wait-and-see approach to refinancing.
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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
Why waiting to refinance often costs more
A lot of homeowners watch rates drop and think, 'I'll refinance when they go even lower.' The problem with that logic is simple: rates don't move in straight lines, and by the time they do shift your way, market conditions may have changed in other ways—or you may have lost months of payment savings you can't get back. The math doesn't always reward patience. Even a modest rate improvement can add up to real money saved over time, and that advantage shrinks the longer you wait. If you've been curious about refinancing, a conversation with me now—not later—can show you what your actual numbers look like and whether the timing makes sense for your situation. Let's talk about whether refinancing could work for you 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 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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