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Mortgage Market Update
Robert Hendley
Robert Hendley
Tuesday, November 3, 2026
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Thinking about refinancing? Start here |
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Sometimes the best financial move is knowing when not to make one. This week, let's talk about refinancing and how to know if it's right for your home and wallet.
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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 Strategy
When a refi makes sense (and when it doesn't)
Refinancing sounds good in theory—lower payments, less interest paid over time. But it only pencils out if the math works for your situation. The key question is simple: will you stay in the home long enough to recoup the costs of refinancing? If you're planning to move within a few years, a refi might not be worth it. But if you're settling in, or if your financial picture has improved since you bought, it could be a smart move. I always recommend running the numbers first rather than guessing. There's no one-size-fits-all answer, which is exactly why it pays to talk through your specific circumstances before deciding. Reach out anytime you're curious whether refinancing could work for you—I'm happy to walk through the details.
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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 Robert Hendley team any time and we'll walk you through your options. |
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