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Mortgage Market Update
My Mortgage Company
Jody Dupuis
Tuesday, November 3, 2026
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Should you refinance right now? |
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I get asked about refinancing pretty often, and it's usually at the moment rates dip. But timing is only part of the story. Here's what actually matters when you're considering it.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift or your situation changes. The key is understanding what you're actually trying to accomplish. Are you lowering your monthly payment? Shortening your loan term? Getting out of an adjustable rate? Each goal has different math behind it, and sometimes the costs of refinancing outweigh the benefit. The best time to explore this is when you have clarity on what you need—not just when rates move. I'm happy to walk through your specific loan and help you figure out whether refinancing makes sense for you right now, or if you're better off staying put. Let's talk about whether a refinance is worth it 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
Jody Dupuis
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