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Mortgage Market Update
Todd Libby
Todd Libby
Tuesday, November 3, 2026
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Does refinancing make sense for you right now? |
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Some weeks the question isn't whether you *can* refinance—it's whether you *should*. Let me walk you through 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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Refinance Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the long-term benefit outweighs the cost and time involved in the process. Some borrowers see it as a way to lower their monthly payment or shorten their loan term. Others use it to tap into home equity or switch from an adjustable to a fixed rate. But if you're only a few years into your mortgage, or if rates haven't moved much, refinancing might not pencil out. I help borrowers run the numbers to see if it's worth it. The math is different for everyone, and that's exactly why it's worth a conversation. Let's talk through whether refinancing could work 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 Todd Libby team any time and we'll walk you through your options. |
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