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Mortgage Market Update
Joe Edwards
Joe Edwards
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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Hi there. This week I'm breaking down one of the questions I hear most: whether refinancing is the right move.
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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 Strategy
When does refinancing actually make sense?
A lot of homeowners wonder if they should refinance, but the answer really depends on your situation. It's not just about rates moving—it's about how long you plan to stay in your home, what your current loan looks like, and whether the math actually works in your favor. Sometimes refinancing saves you money over time. Sometimes it doesn't. The key is looking at the full picture instead of chasing every rate dip. If you've been thinking about it, I can walk you through what a refinance would mean for your specific loan and help you decide if it's worth doing right now. If you're curious whether refinancing makes sense for you, let's talk through the details.
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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 Joe Edwards team any time and we'll walk you through your options. |
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