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Mortgage Market Update
My Mortgage Company
Lucy Thornton
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Hi there — this week I want to tackle a question I hear all the time from clients.
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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 does refinancing actually make sense?
A lot of people ask me whether they should refinance, and the honest answer is: it depends on your situation. Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term benefit outweighs the cost of refinancing itself. Some borrowers benefit from a lower rate or a shorter loan term. Others might want to tap into their equity for a major expense. But if you're only thinking about monthly payment savings, you'll want to run the full math first. That's where I come in. I can walk you through whether refinancing makes sense for your specific loan and goals — no pressure, just clarity. Let's talk about whether refinancing is the right move 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
Lucy Thornton
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