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Mortgage Market Update
Michele de Vahle
Michele de Vahle
Tuesday, November 3, 2026
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Should you refinance right now? |
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Hi there. This week I want to talk about one of the most common questions I get, and one where a real conversation beats generic advice.
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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 Timing
When it actually makes sense to refinance
A lot of people ask me whether they should refinance, and the honest answer is: it depends on your situation, not just the rate environment. Refinancing can lower your payment, shorten your loan term, or help you tap into your home's equity—but it only makes sense when the benefit outweighs the cost and effort involved. The best time to explore it is when your financial picture has genuinely changed—maybe your credit has improved, your income has grown, or you're thinking about a major life goal. If you've been wondering whether now is your moment, I'd be happy to walk through the numbers with you and see what options might actually work. Reach out anytime if you'd like to talk through whether refinancing makes sense for your specific goals.
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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 Michele de Vahle team any time and we'll walk you through your options. |
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