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Mortgage Market Update
Angela Maw
Angela Maw
Tuesday, November 3, 2026
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Should you refinance? Here's how to decide. |
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Not every loan change is worth it—some borrowers are already in a good spot. This week, let's talk about 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 Reality
When refinancing makes sense (and when it doesn't)
Refinancing gets a lot of attention, but it's not always the right move. The main reason people refinance is to lower their monthly payment or shorten their loan term—but both only make sense if the numbers work in your favor after closing costs and fees. Sometimes you've already got a solid rate and loan, and refinancing just costs money. Other times, staying put in your current loan lets you build equity faster than starting over. The best approach is simple: run the real numbers for your specific situation, not the hypothetical ones in an ad. I'm happy to walk through what makes sense for where you are right now. Let's talk about your current loan and whether a change makes sense.
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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 Angela Maw team any time and we'll walk you through your options. |
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