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Mortgage Market Update
Jesse Moorhouse
Jesse Moorhouse
Tuesday, November 3, 2026
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Should you refinance your mortgage right now? |
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Not every homeowner should refinance, and that's okay. Let's figure out if you're one who should consider it.
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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 benefits you'd gain over time outweigh the costs to close a new loan. Some folks refinance to lower their payment or shorten their loan term. Others tap their home's equity for a specific goal. But if you're only a few years into your mortgage, or your situation is about to change, the math might not work in your favor. That's why it's worth running the numbers before you commit. I can walk you through what refinancing would look like for your home and goals, with no pressure or obligation. Let's talk about whether it makes sense for you. Reach out and we can explore whether refinancing fits 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 Jesse Moorhouse team any time and we'll walk you through your options. |
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