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Mortgage Market Update
My Mortgage Company
Marcell Walker
Tuesday, November 3, 2026
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Should you refinance right now? |
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Rates move, but that doesn't always mean it's time to refinance. Here's how to know the difference.
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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 makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates dropped—it's whether a new loan actually improves your situation over time. You'll want to think about how long you plan to stay in your home, what fees a new loan would cost, and how much your payment would actually change. Sometimes refinancing pencils out beautifully. Other times, you're better off keeping what you have. I've seen borrowers get excited about a rate move only to realize the math didn't work for their timeline. That's why it's worth running the numbers before you decide. If you're wondering whether refinancing could help your situation, I'd be happy to walk through the specifics with you—no obligation. Let me know if you'd like to explore whether refinancing makes sense for your loan.
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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
Marcell Walker
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