Mortgage Market Update

My Mortgage Company

Open Door Lending

Tuesday, November 3, 2026

Does refinancing make sense right now?

There's a lot of chatter about refinancing this time of year. I want to help you figure out if it's actually the right move for you.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Refinance Strategy

When refinancing makes sense (and when it doesn't)

Refinancing isn't automatically the right move just because rates shift. The real question is whether the long-term benefit outweighs the upfront cost and time involved. Some borrowers break even in months; others take years. It depends on your timeline, how long you plan to stay in the home, and what you're trying to accomplish—lower payments, a shorter loan term, or cashing out equity for a specific goal.

If you've been wondering whether now is your moment to refinance, I'd like to walk through the numbers with you. We can look at what your savings might actually be, talk through the process, and help you decide if it makes sense for your situation.

Let's talk through whether refinancing could work for you.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Open Door Lending

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