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Mortgage Market Update
My Mortgage Company
Jorge Ramirez
Tuesday, November 3, 2026
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What your credit score actually controls |
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Hello,
One of the most common questions I hear is how credit affects a mortgage. Here's what you should know:
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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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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Debt & Borrowing
Why your credit score matters more than you think
Your credit score isn't just a number—it's the biggest factor lenders use to decide whether to approve you and what rate they'll offer. Even small improvements can make a real difference in your borrowing power. If you're planning to buy, refinance, or just want to understand where you stand, knowing your score and the factors that drive it is the first step. The good news: credit is something you can influence with smart habits over time. I've helped plenty of borrowers strengthen their position before applying, and it's always worth the effort. Let me know if you'd like to talk about where your credit stands and what moves make sense for your goals.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Jorge Ramirez
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