Mortgage Market Update

My Mortgage Company

Jessica DeMott

Tuesday, November 3, 2026

Does refinancing make sense right now?

Hi there. This week I want to touch on a question I hear often: when is the right time to refinance?

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Refinancing Basics

When refinancing makes sense (and when it doesn't)

Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain covers the cost of refinancing itself. This is where your current loan balance, how long you plan to stay in your home, and the closing costs all matter. Some people benefit quickly; others break even years down the road. It's personal, not one-size-fits-all.

If you're wondering whether refinancing could work for your situation, I'm happy to walk through the numbers with you. There's no obligation—just clarity so you can decide what makes sense for your goals.

Let's talk through whether refinancing could benefit you.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Jessica DeMott

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