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Mortgage Market Update
My Mortgage Company
Carlos Rivera
Tuesday, November 3, 2026
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Does refinancing actually pay off for you? |
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Hi there—here's something I get asked about a lot, especially when the lending market moves. Let me break down how to tell if refinancing is worth your time and money.
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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 Reality
When refinancing actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates dropped—it's whether the math works for your specific situation. You'll want to think about how long you plan to stay in your home, what you'd pay in closing costs, and whether a lower rate would actually save you money over time. Sometimes keeping your current loan is the smarter choice. That's why it helps to run the numbers with someone who knows your full picture, not just someone selling you on the idea. I'm here to walk through the real pros and cons so you can make the decision that's right for you. Reach out if you'd like to see whether refinancing pencils out 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
Carlos Rivera
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