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Mortgage Market Update
Pia Harriman
Pia Harriman
Tuesday, November 3, 2026
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Your credit score affects your mortgage rate |
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Hi there — this week I want to cover something that surprises a lot of borrowers. Your credit score and the interest rate you qualify for are closely linked, and understanding that connection can help you make a smarter decision.
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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
Your credit score and your mortgage rate
A lot of people don't realize how directly connected these two are. Your credit score is one of the first things we look at because it tells us how you've managed debt in the past — and lenders use that to decide what rate to offer you. The better your score, the better your rate options tend to be. The gap between a strong score and a fair one can add up to real money over the life of your loan. If you're thinking about buying or refinancing, it's worth pulling your credit report now and giving yourself time to address any errors or rough spots before you apply. I'm happy to walk you through what lenders see and what you might be able to improve. Let's talk about where your credit stands and what that means for your next move.
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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 Pia Harriman team any time and we'll walk you through your options. |
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