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Mortgage Market Update
Ginny Foster
Ginny Foster
Tuesday, November 3, 2026
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When refinancing actually pays off |
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Not every rate move calls for action. Sometimes the smartest play is to wait.
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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 a rate drop is worth the paperwork
Refinancing isn't always the right move, even when rates fall. There are costs involved—application fees, appraisals, title work—and it takes time. The real question is whether your savings will add up over how long you plan to stay in your home. If you're thinking about moving in a few years, refinancing might not pencil out. But if you're settling in, even a modest rate improvement can put real money back in your pocket over time. I've helped plenty of borrowers run the numbers and find out exactly where they stand. If you've been curious whether now is your moment to refinance, let's talk through it together. Reach out and we can look at whether refinancing 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 Ginny Foster team any time and we'll walk you through your options. |
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