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Mortgage Market Update
Nicholas Dolen
Nicholas Dolen
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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One of the questions I hear most often is whether refinancing is the right move. Let me break down when it typically makes sense.
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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—replacing your current mortgage with a new one—can be a smart move, but it's not right for everyone or every situation. The main reasons people refinance are to lower their monthly payment, shorten their loan term, switch from adjustable to fixed rates, or tap into home equity. But refinancing comes with closing costs and takes time, so you want to make sure the benefit outweighs what you'll pay upfront. The math changes depending on how long you plan to stay in your home and what rates look like right now. If you've been wondering whether it's worth exploring, I'm happy to walk through your specific situation—no obligation, no pressure. Let's figure out if it makes sense for you. Reach out if you'd like to talk through whether refinancing could work for your goals.
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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 Nicholas Dolen team any time and we'll walk you through your options. |
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