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Mortgage Market Update
My Mortgage Company
Philip Ganz
Tuesday, November 3, 2026
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Should you refinance? Here's how to tell |
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Some weeks I hear from borrowers wondering whether now's the time to refinance. The honest answer isn't always yes, and I'd rather help you see the real picture than push you into something that doesn't work for you.
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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 isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain outweighs the time and cost it takes to close a new loan. Some folks break even quickly; others find they'd need to stay in their home much longer to come out ahead. It depends on your current loan, how long you plan to stay put, and what your new terms would actually look like. That's why a real conversation—not a sales pitch—matters here. I can walk you through the numbers specific to your situation and help you see if it pencils out for you. Let's run the math together and see what makes sense for your home and timeline.
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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
Philip Ganz
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