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Mortgage Market Update
My Mortgage Company
Destany Poulette
Tuesday, November 3, 2026
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When refinancing works (and when it doesn't) |
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Refinancing gets a lot of buzz, but it's not a one-size-fits-all move. Here's how to think about it clearly.
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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?
Refinancing isn't right for everyone, and the timing matters. It makes the most sense when your situation has changed—maybe rates have moved significantly, your credit has improved, you've built equity, or your financial goals have shifted. The key is weighing the costs of refinancing against what you'd actually save over the time you plan to stay in your home. Some people refinance to shorten their loan term, lower their monthly payment, or switch from a variable rate to a fixed one. Others use their equity to fund home improvements or consolidate debt. The math is different for each person, which is why it's worth having a real conversation about your specific circumstances rather than just chasing a rate number. Let's talk through whether a refinance makes sense for your 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
Destany Poulette
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