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Mortgage Market Update
My Mortgage Company
Jose L Calvo Jr — Jose Calvo Jr
Saturday, October 31, 2026
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Does refinancing make sense for you? |
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Sometimes the right move isn't obvious—especially when it comes to your mortgage. I want to share when refinancing actually pencils out and when it doesn't.
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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
Should you refinance? Here's how to tell.
Refinancing isn't one-size-fits-all, and it's not just about rates. Yes, a lower rate can reduce your monthly payment or help you pay off your loan faster. But there are other reasons homeowners refinance: to switch from an adjustable to a fixed rate for stability, to tap into equity for a renovation or major expense, or to shorten your loan term as your finances improve. The catch is that refinancing has costs—closing costs, title work, appraisal. Whether it makes sense depends on your timeline, how long you plan to stay in your home, and what you're trying to accomplish. I'm happy to walk through the numbers with you and show what different scenarios might look like for your situation. Let's talk about whether refinancing could work for you right now.
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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
Jose L Calvo Jr — Jose Calvo Jr
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