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Mortgage Market Update
My Mortgage Company
Teena Broumand
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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I get asked about refinancing a lot—and for good reason. The answer isn't one-size-fits-all, so let me break down what actually matters when you're weighing the decision.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefits over time outweigh the costs of closing a new loan. Some borrowers benefit from lower payments or shorter loan terms. Others find that switching doesn't pencil out financially—especially if they plan to move or pay off the mortgage soon. The math changes based on your situation: how long you'll stay in the home, what you currently owe, and how your credit looks today all factor in. If you've been wondering whether it's worth exploring, I can help you run the real numbers so you're not guessing. Reach out if you'd like to talk through whether refinancing fits your goals right now.
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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
Teena Broumand
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