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Mortgage Market Update
My Mortgage Company
Power Lending
Wednesday, November 4, 2026
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Should you refinance your mortgage? |
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Hi there. I spend a lot of time helping homeowners understand whether refinancing is worth their while.
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National Mortgage Rates · November 3, 2026
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Conventional 30-Year
7.17%
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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
Refinancing isn't always the right move—even when rates drop or your home gains value. The real question is whether the benefit of a lower payment, shorter timeline, or better loan terms outweighs the cost and effort of starting a new loan. Some borrowers benefit immediately; others need to stay put longer to break even. It depends on your situation: how long you plan to stay in the home, what you owe versus what it's worth, and your current loan terms. If you've been thinking about it, a straightforward conversation can help you figure out whether it makes financial sense for you right now—or if waiting makes more sense instead. If you'd like to explore whether refinancing could work for you, let's talk.
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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
Power Lending
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