Mortgage Market Update

My Mortgage Company

David Martel Powered By Barrett Financial Group

Tuesday, November 3, 2026

Should you refinance? Here's how to know

Hi there. This week I'm covering a question I hear a lot: when is the right time to refinance?

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Refinancing Basics

When it makes sense to refinance your mortgage

Refinancing isn't a one-size-fits-all decision—it depends on your situation, how long you plan to stay in your home, and what rates are doing. Some people refinance to lower their monthly payment. Others tap into home equity for a big project or to consolidate debt. And some switch from an adjustable rate to a fixed one for peace of mind.

The catch is that refinancing comes with costs and a new loan timeline, so it only pencils out if the benefit outweighs those expenses. That's why it's worth a conversation: I can walk you through your specific numbers and help you decide if a refinance makes sense right now, or if it's better to wait.

Let's talk about whether refinancing could work for you—just reach out.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

David Martel Powered By Barrett Financial Group

You are receiving this from David Martel Powered By Barrett Financial Group. Unsubscribe