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Mortgage Market Update
Joshua Switzer
Joshua Switzer
Saturday, October 31, 2026
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Should you refinance? Here's how to tell |
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Hi there. This week I want to talk about something I get asked about constantly: whether refinancing makes sense right now.
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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 Strategy
When it pays to lock in a new rate
A lot of people ask me whether they should refinance, but the better question is: what would refinancing actually do for my situation? The answer depends on a few things—where your current rate sits relative to today's market, how long you plan to stay in your home, and what your goals are. Some borrowers refinance to lower their monthly payment. Others use it to shorten their loan term or switch from an adjustable to a fixed rate. The math looks different for everyone, which is why it's worth running the numbers with someone who knows your loan inside and out. I'm happy to walk through whether a refinance pencils out for you. Give me a call or send me a note—I can review your current situation and tell you what your options look like.
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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 Joshua Switzer team any time and we'll walk you through your options. |
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