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Mortgage Market Update
Jesse Moorhouse
Jesse Moorhouse
Tuesday, November 3, 2026
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Should you refinance right now? |
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Hi there—this week I want to talk about one of the most common questions I hear: when does it actually make sense to refinance?
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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 rate drop is worth a second look
Not every rate change calls for a refinance—but some do. The math depends on how long you plan to stay in your home, what you'd pay to refinance, and how much your monthly payment would actually drop. If rates have moved meaningfully lower since you locked in your loan, it might be worth running the numbers. Even a small monthly savings adds up over time, and sometimes the real win is shortening your loan term or switching from adjustable to fixed without a rate advantage at all. The trick is knowing which move makes sense for your situation, not just chasing the lowest number on the rate sheet. If you're curious whether refinancing could work for you, I'd be happy to walk through your options.
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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 Jesse Moorhouse team any time and we'll walk you through your options. |
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