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Mortgage Market Update
My Mortgage Company
Elle Zimmerman
Tuesday, November 3, 2026
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Should you refinance right now? |
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Hi there. A lot of folks ask me whether they should refinance—and the honest answer isn't always yes.
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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 Reality
When refinancing actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question is whether the cost to refinance—closing costs, appraisal, title work—will be recouped by your monthly savings before you sell or move. If you're planning to stay put for several years, refinancing might pencil out. But if your timeline is shorter, or if you're only saving a small amount per month, you might be better off keeping your current loan. The math matters more than the rate alone. If you've been wondering whether now is the time to refinance, I'd be happy to run the actual numbers with you and show you what it would really cost and save. Let's talk through whether refinancing makes sense 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
Elle Zimmerman
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