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Mortgage Market Update
Justin Stein
B.E. Home Finance
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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I field this question every week: should I refinance? The answer depends on more than just rate movements—let me break it down.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates have changed—it's whether the change is big enough to justify the cost and time of refinancing. Some borrowers benefit right away; others need to stay put and build equity first. The best decision depends on your loan balance, how long you plan to stay in your home, and what your current rate and terms look like. If you've been wondering whether it's worth exploring, I'm here to walk through the math with you. There's no obligation—just clarity on whether it makes sense for your specific situation. Let's talk about whether refinancing could work 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 Justin Stein team any time and we'll walk you through your options. |
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