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Mortgage Market Update
Michael Radcliffe
The Rad CRM
Tuesday, November 3, 2026
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Should you refinance? The math matters |
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Refinancing gets pitched a lot, but not every homeowner should do it. Here's how to know if it's right for 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 Reality
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question isn't just whether rates have dropped—it's whether the savings over time outweigh closing costs and how long you plan to stay in your home. Some borrowers see immediate relief in their monthly payment; others find that breaking even takes years. Your situation is unique: your loan balance, remaining term, credit profile, and timeline all factor in. A refinance that makes perfect sense for one homeowner might not pencil out for another. That's why it's worth having a real conversation before you decide. I can walk you through the numbers specific to your loan and help you see the actual picture, not just the headline. Let's run the numbers on your situation—reach out and we can look at whether refinancing makes sense 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 Michael Radcliffe team any time and we'll walk you through your options. |
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