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Mortgage Market Update
My Mortgage Company
Brad Payne
Tuesday, November 3, 2026
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Is refinancing worth it for you right now? |
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Not every borrower should refinance—but some absolutely should. Here's how to know if you're one of them.
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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
Should you refinance your mortgage right now?
Refinancing isn't always about chasing lower rates—sometimes it's about shortening your loan term, switching from adjustable to fixed, or tapping equity for a major expense. The real question is whether the change aligns with your goals and timeline. If you've owned your home for a few years, your financial situation has shifted, or rates have moved meaningfully, it might be worth a conversation. I can walk you through the numbers and help you see if refinancing actually moves you closer to where you want to be. Let's talk through whether a refinance makes sense 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
Brad Payne
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