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Saturday, October 31, 2026 |
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Mortgage Market Update
Does refinancing fit your goals right now?
With so much information out there about mortgages, it's easy to feel lost about what actually applies to you. This week I want to walk through something I hear about constantly: refinancing, and when it really makes sense.
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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 a refi makes sense for your situation
Refinancing isn't one-size-fits-all. Some borrowers benefit from it right away; others find it works better down the road. The key is understanding your own numbers and goals. Are you looking to lower your monthly payment? Build equity faster? Tap into home equity for a big expense? Each goal points to a different strategy. The right move depends on how long you plan to stay in your home, what your current loan looks like, and where rates are relative to your existing rate. That's why it's worth having a real conversation about your specific situation before deciding whether to move forward. Reach out anytime you want to talk through 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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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 Michael Langille team any time and we'll walk you through your options.
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30 S 7th Ave, Brighton, CO 80601
303-549-1119
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