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Mortgage Market Update
My Mortgage Company
Miguel Morales
Tuesday, November 3, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to touch on a question I hear pretty often: when does it actually make sense to refinance?
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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 Readiness
When refinancing makes sense for your situation
Refinancing isn't right for everyone, but it's worth understanding when it could actually work in your favor. Maybe your credit has improved since you got your original mortgage, or life circumstances have shifted. Maybe you're wondering if you should lock in a different rate or loan term. The real question is whether the benefits outweigh the costs of refinancing—and that answer is different for every homeowner. I can walk you through whether a refinance pencils out for you right now, what your options look like, and what the actual timeline and process would be. There's no obligation; it's just about having clear information so you can decide with confidence. Let's talk through whether refinancing could benefit 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
Miguel Morales
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