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Mortgage Market Update
My Mortgage Company
Lock It Mortgage
Tuesday, November 3, 2026
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Refinancing might not be worth it |
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Some weeks the question I hear most is about refinancing—whether borrowers should do it, whether it makes financial sense. Here's what I've learned: the answer is almost always 'it depends.'
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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 does refinancing actually make sense?
Refinancing isn't a one-size-fits-all move, and it's not always the right call even when rates look attractive. The real question is whether the benefit you'd gain—a lower payment, shorter loan term, or switching loan types—outweighs the costs and time involved. For some borrowers, the math works beautifully. For others, staying put makes more sense. The only way to know is to look at your specific situation: how long you plan to stay in the home, what your current loan looks like, and what's actually available to you right now. I'd love to walk through the numbers with you and give you an honest answer about whether it's worth exploring. Let's talk through whether refinancing fits your 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
Lock It Mortgage
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