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Mortgage Market Update
Caleb May
Caleb May
Tuesday, November 3, 2026
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Should you refinance right now? |
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Rates fluctuate, but that doesn't automatically mean refinancing is your move. Here's how to think about it.
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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 Basics
When refinancing actually makes sense
A lot of people ask me: should I refinance? The truth is, it depends on your situation, not just what rates are doing. Refinancing makes sense when the benefit outweighs the cost and effort—whether that's lowering your payment, shortening your loan term, or getting out of an adjustable rate. But it's not automatic. The longer you plan to stay in your home, the more a refi can work in your favor. I help borrowers run the real numbers so you know exactly what you're signing up for, not just the sales pitch. If you've been wondering whether refinancing is right for you, let's talk through your numbers.
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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 Caleb May team any time and we'll walk you through your options. |
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