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Mortgage Market Update
My Mortgage Company
Ivan Benevich
Tuesday, November 3, 2026
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Should you refinance instead of move? |
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One of the biggest decisions homeowners face isn't always about finding a new house—it's about whether their current one still fits their life. Let me share something that might surprise you.
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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 staying put beats moving
If you've been thinking about a bigger house or a change of scenery, it's worth running the numbers first. Moving costs money—inspections, closing costs, realtor fees, and all the logistics add up fast. But refinancing your current loan might give you the breathing room you're looking for without the upheaval. Lower payments, a shorter loan term, or cash-out options can all shift what feels possible in your current home. Sometimes the best move is staying put and adjusting the terms of what you already have. I'd be happy to walk through whether a refinance makes sense for your situation right now. Let's talk about whether refinancing could work for you.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Ivan Benevich
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