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Mortgage Market Update
Lisandro Sky
Lisandro Sky
Saturday, October 31, 2026
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Does refinancing make sense for you? |
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Refinancing sounds simple until you start digging into the details. Here's what actually matters when deciding whether to do it.
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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 Readiness
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain over time outweighs the cost of refinancing itself. Sometimes it does—sometimes it doesn't. It depends on how long you plan to stay in your home, what you currently owe, and how your new loan terms would compare to what you have now. I help clients think through the actual numbers, not just the rate. The goal is to make sure any refinance puts you ahead, not just makes sense on paper. If you've been wondering whether now might be worth exploring, I'm happy to walk through your specific situation with no pressure. Let's talk about whether refinancing could work for you.
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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 Lisandro Sky team any time and we'll walk you through your options. |
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