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Mortgage Market Update
My Mortgage Company
Destany Poulette
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Most people think refinancing is automatic when rates move. But the real answer is more nuanced than that—and it depends on your unique situation.
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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
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain over time outweighs the costs of refinancing—things like appraisal fees, title work, and processing. Sometimes it makes sense; sometimes you're better off staying put. The math depends on how long you plan to stay in your home, your current loan balance, and how much rates have actually moved. That's why it's worth running the numbers before you decide. If you've been wondering whether a refinance could work for you, I'm happy to walk through your specific situation and show you what the actual trade-offs look like. Reach out if you'd like me to run a quick refinance analysis for your loan.
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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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