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Mortgage Market Update
Michael Radcliffe
The Rad CRM
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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Hi there—I wanted to touch on a question I hear often this time of year. Whether you're thinking about refinancing or just curious how it works, I've put together some honest perspective.
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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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Refinance Basics
When refinancing makes sense (and when it doesn't)
A lot of homeowners assume refinancing is always worth exploring when rates move. The truth is more nuanced. Refinancing can lower your monthly payment, shorten your loan term, or help you tap into equity—but it also comes with costs and a new application process. The real question isn't whether rates are lower; it's whether the benefit you'd gain outweighs what you'd spend to make the switch. Sometimes it does. Sometimes you're better off staying put. I can walk through the numbers with you and show you what a refinance would actually look like for your situation—no obligation, just clarity. That's the only way to know if it makes sense right now. Let's talk through whether refinancing is the right move 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 Michael Radcliffe team any time and we'll walk you through your options. |
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