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Mortgage Market Update
Scott Webster
Webster Mortgage Group Powered by Barrett Financial
Saturday, October 31, 2026
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Does refinancing make sense right now? |
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One of the most common questions I hear is whether someone should refinance. The answer depends entirely on your circumstances—and it's worth exploring.
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National Mortgage Rates · October 29, 2026
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Conventional 30-Year
7.15% 30-day Range: 7.15%–7.46%
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Conventional 15-Year
6.52% 30-day Range: 6.50%–6.81%
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FHA 30-Year
7.04% 30-day Range: 7.01%–7.21%
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VA 30-Year
6.79% 30-day Range: 6.79%–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 it makes sense to refinance your mortgage
Refinancing isn't just about chasing a lower rate—though that's often the reason people do it. You might refinance to shorten your loan term, switch from an adjustable to a fixed rate, tap into your home's equity for a big project, or consolidate debt. The key is understanding your own situation: how long you plan to stay, what your current loan costs, and what your financial goal actually is. Sometimes refinancing makes perfect sense. Sometimes it doesn't. The only way to know for sure is to run the numbers on your specific loan. That's where I come in.
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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 Scott Webster team any time and we'll walk you through your options. |
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2701 East Insight Way, Suite 150, Chandler, AZ 85286
NMLS# 1517404 · Company NMLS# 181106
(480) 343-8081 | webstermtggroup.com
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