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Mortgage Market Update
Jacquie Saldana
Jacquie Saldana
Saturday, October 31, 2026
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Does refinancing actually pay off for you? |
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Not every homeowner should refinance, even when rates move. Here's how to think about it clearly.
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National Mortgage Rates · October 29, 2026
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Conventional 30-Year
7.15%
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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?
Refinancing isn't right for everyone, and it's not just about chasing lower rates. The real question is whether the costs involved—application fees, appraisal, title work—will be worth what you save over the time you plan to stay in your home. Sometimes a refinance pencils out in just a few years. Other times, it might take longer than it's worth. The best move depends on your specific situation: how long you're staying put, what your current terms are, and what's available to you today. That's exactly the kind of decision I help people make every week. Let's talk through whether a refinance makes sense for your situation.
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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 Jacquie Saldana team any time and we'll walk you through your options. |
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