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Mortgage Market Update
My Mortgage Company
Teddy Pendergrass Capital Inc.
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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One of the questions I hear most often is whether it's time to refinance. The answer depends on more than just rates—it's personal to your situation.
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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
Refinancing isn't always the right move, even when rates drop or your home gains value. The real question is whether the benefit outweighs the cost and time involved. Sometimes staying put with your current loan is the smarter choice. I work through this math with borrowers all the time, and it usually comes down to your timeline—how long you plan to stay in the home matters as much as the numbers on paper. If you've been wondering whether it's worth exploring, I'm happy to run the scenario with you and give you an honest answer about whether it pencils out for your situation. Reach out if you'd like me to walk through whether refinancing could work for you.
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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
Teddy Pendergrass Capital Inc.
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