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Mortgage Market Update
My Mortgage Company
Ivan Benevich
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Hi, this week I wanted to tackle a question I hear a lot: should I refinance my mortgage? The answer isn't always yes—and that's exactly what we should discuss.
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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
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term benefit outweighs the cost and effort of the process. Some borrowers see a meaningful reduction in their monthly payment or loan term. Others find that the timing or their current situation just doesn't line up yet. The key is running the actual numbers for your specific loan—not getting caught up in the idea that you *should* refinance, but figuring out if you genuinely *would* benefit. That's where an honest conversation makes all the difference. I'm happy to walk through whether refinancing could work for you right now, or if waiting makes more sense. Let's talk about 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 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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