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Mortgage Market Update
My Mortgage Company
Carlos Rivera
Tuesday, November 3, 2026
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Does refinancing make sense right now? |
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One of the most common questions I get is whether it's time to refinance. The answer depends on more than just interest rates—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 does refinancing actually make sense?
Refinancing sounds simple—get a new loan at better terms—but it only makes financial sense if the savings outweigh the cost of closing. The real question isn't whether rates dropped, but whether you'll stay in your home long enough to recoup what you'll pay to refinance. Some borrowers break even in months; others need years. Your timeline, current loan balance, and how long you plan to own matter just as much as the rate itself. If you've been wondering whether now is the right moment, let's run the actual numbers together and see if it pencils out for your situation. If you'd like to explore whether refinancing makes sense for you, I'm happy to walk through the details.
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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
Carlos Rivera
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