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Mortgage Market Update
Michael Medina
Michael Medina
Monday, November 2, 2026
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Should you refinance right now? |
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One of the questions I hear most often is whether now is a good time to refinance. The answer depends on your own circumstances, not just what rates are doing.
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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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Refinance Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't a one-size-fits-all move. It can make real sense if your situation has changed—maybe rates have moved in your favor, or your credit has improved, or you want to tap equity for a major expense. But it also costs money to refinance, so you want to make sure the benefit outweighs the cost over the time you plan to stay in your home. The key is doing the math on your specific loan and timeline. That's where I come in. I can walk you through whether refinancing would actually put you ahead, or whether you're better off staying put. No pressure either way—just clarity so you can decide what's right for your situation. Let's talk through your options—reach out anytime.
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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 Michael Medina team any time and we'll walk you through your options. |
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