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Mortgage Market Update
My Mortgage Company
Mpire Financial - For Deletion
Tuesday, November 3, 2026
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Should you refinance your mortgage right now? |
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Refinancing comes up in conversations a lot, and it's worth understanding when it actually works in your favor. This week I'm breaking down the real factors that matter.
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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 Basics
When does refinancing actually make sense?
A lot of people ask me whether they should refinance, and the answer depends on your situation more than the headlines suggest. Refinancing isn't just about chasing lower rates—it's about whether the cost to refinance pays off over the time you plan to stay in your home. Sometimes a small rate drop makes sense; sometimes it doesn't. Other times, refinancing is worth it for reasons that have nothing to do with rates: shortening your loan term, switching from adjustable to fixed, or tapping equity for a planned expense. The key is running the real numbers for your specific loan and timeline, not just comparing headlines. I'd be glad to walk through whether it makes sense for you. Let's talk through your situation—reach out and we can look at the numbers together.
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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
Mpire Financial - For Deletion
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