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Mortgage Market Update
Todd Sevier
Todd Sevier
Saturday, October 31, 2026
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Does refinancing pencil out for you? |
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It's easy to get excited when rates shift. But a lower rate doesn't automatically mean a refinance is worth your time.
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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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Equity & Cash Flow
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question isn't whether rates dropped—it's whether the monthly savings justify the cost and time of a new loan. Some borrowers are deep into their current mortgage and benefit most from staying put. Others are early in the loan and have room to refinance, reset, or switch to a different program that better fits their goals. The break-even point is different for everyone. That's why it's worth a conversation: I can walk through your specific situation, show you the numbers, and tell you honestly whether refinancing moves the needle or just creates unnecessary hassle. If you're curious whether a refinance makes sense for you, let's talk through it.
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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 Todd Sevier team any time and we'll walk you through your options. |
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