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Mortgage Market Update
My Mortgage Company
Ed - Regional Mortgage
Tuesday, November 3, 2026
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Does it make sense to refinance right now? |
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Rates move, and when they do, refinancing questions usually follow. 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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Refinance Reality
When refinancing makes sense (and when it doesn't)
Refinancing sounds simple: swap your old loan for a new one at a better rate. But the real question is whether the monthly savings actually justify the costs of closing a new loan. I see borrowers leave money on the table both ways—some refinance when it doesn't pencil out financially, others hold off when they'd genuinely benefit. The math depends on how long you plan to stay in your home, your current loan balance, and how much has changed since you first borrowed. It's worth running the real numbers instead of guessing. If you're curious whether refinancing could work for your situation, I'm happy to walk through what it would look like. Let me know if you'd like to explore whether refinancing makes sense for you.
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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
Ed - Regional Mortgage
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