Mortgage Market Update

My Mortgage Company

Heidi Hernandez

Tuesday, November 3, 2026

Should you refinance right now?

Hi there. Rates have been moving around, and I know some of you are wondering whether refinancing could lower your payments or help your financial goals.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Refinancing Strategy

When refinancing makes sense (and when it doesn't)

I talk to homeowners all the time who wonder if refinancing is worth the effort. The truth is, it depends on your situation. A refi can work well if rates have moved in your favor and you plan to stay in your home long enough to recoup the closing costs. But if you're only staying a couple more years, or if your rate is already competitive, refinancing might not pencil out.

The key is running the actual numbers on your specific loan. How much would your payment drop? How long until you break even on costs? What's your timeline? These answers are personal to you, and they deserve more than a guess. If you've been wondering whether now is your moment to refinance, I'd love to sit down and work through it together.

Let's look at your numbers and see if refinancing makes sense for your situation.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Heidi Hernandez

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