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Mortgage Market Update
My Mortgage Company
BEST Real Estate
Tuesday, November 3, 2026
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Credit score isn't the whole story |
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Hi there. This week I want to clear up a common worry I hear from people thinking about buying or refinancing.
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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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Loan Programs
What happens when you have less than perfect credit
Your credit score matters when you apply for a mortgage, but it's not the only thing we look at. Many loan programs are designed specifically for borrowers whose credit is still being rebuilt or has a few rough patches. A lower score doesn't automatically mean you won't qualify—it usually just means we may need to structure your loan differently, or you might pay slightly higher rates to offset the risk. The good news: knowing what programs exist and what lenders can work with gives you real options. I've helped plenty of borrowers move forward even when they thought their credit score would shut them out. The conversation is worth having. Let's talk about what programs might actually work for your situation.
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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
BEST Real Estate
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