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Mortgage Market Update
My Mortgage Company
Charles Skinner — Charles Skinner
Tuesday, November 3, 2026
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Is refinancing worth it for you right now? |
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One of the most common questions I hear is whether now is the time to refinance. The honest answer: it depends on your circumstances, not just what rates are doing.
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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 Readiness
When does refinancing actually make sense?
Refinancing isn't always the right move—even when rates drop. The decision depends on how long you plan to stay in your home, what your current loan costs, and how much you'd spend to refinance. Some borrowers break even in a few months; others take years. That's why running the real numbers matters more than chasing headlines about rate moves. If you've been curious whether refinancing could work for your situation, I can walk you through what the math looks like for your specific loan. There's no obligation—just clarity on whether it makes financial sense for you. Let's talk through whether refinancing fits your timeline and goals.
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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
Charles Skinner — Charles Skinner
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