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Mortgage Market Update
My Mortgage Company
Liz Rich — Elizabeth Rich
Tuesday, November 3, 2026
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Is refinancing worth it for you right now? |
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Sometimes the smartest financial move is doing nothing. Other times, it's worth taking another look at your mortgage to see if there's a better option waiting.
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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 Basics
Should you refinance? Here's how to decide.
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefits you'd get—a lower payment, a shorter loan term, or cash out for something important—outweigh the costs and time involved in closing a new loan. If you've built equity or your situation has changed since you bought, refinancing might make sense. But it's worth running the numbers first to see if the math actually works for your goals. That's where I come in. I can walk through your options without pressure and help you figure out if now is the right time for you. Let's talk through whether refinancing could work for your situation.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Liz Rich — Elizabeth Rich
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