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Mortgage Market Update
Dana Freeman
Dana Freeman
Tuesday, November 3, 2026
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Does refinancing make sense for you right now? |
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A lot of homeowners wonder whether they should refinance, but the answer depends entirely on your plans and numbers. Let me walk you through the thinking.
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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. The real question is whether the benefit you'd gain outweighs the cost and time involved. If you're planning to stay in your home for several more years, refinancing can make sense. If you're thinking of selling or moving soon, it probably won't pay off. I often see borrowers surprised by how much their situation has changed since they first bought—better credit, more equity, different income. That can open doors to better terms you might not have expected. If you've been curious whether a refinance could work for you, now's a good time to talk it through with no pressure. Reach out if you'd like to explore whether refinancing could make sense for your specific 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 Dana Freeman team any time and we'll walk you through your options. |
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