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Mortgage Market Update
My Mortgage Company
Q Mortgage
Tuesday, November 3, 2026
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Should you refinance? Maybe, maybe not |
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Not every rate move calls for a refinance. This week I want to share how to think about whether it's worth the effort.
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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 actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question is whether the savings over time outweigh the costs and effort of getting a new loan. Sometimes a lower rate saves you real money; sometimes you'd be better off staying put. The answer depends on your timeline, how long you plan to stay in your home, and what your current loan looks like. If you're curious whether it might work for your situation, I'd be happy to walk through the numbers with you — no obligation. A quick conversation can show you exactly what refinancing would mean for your monthly payment and long-term costs. Let's talk through whether refinancing makes sense for you right now.
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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
Q Mortgage
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