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Mortgage Market Update
Ken Janes
Ken Janes
Tuesday, November 3, 2026
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Your credit score is working harder than you think |
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A lot of borrowers don't realize how much their credit score shapes their home loan. Let me break down why it matters and what you can do about it.
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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 matters more than you think
I talk to a lot of people who think their credit score is just a number. But when you're borrowing for a home, it's one of the biggest levers that moves your loan terms. A higher score can open doors to better programs and more favorable conditions—while a lower one can cost you real money over the life of a loan. The good news: if your score has dipped, you don't have to stay there. Small, consistent moves—paying down balances, catching up on late payments, or just letting time pass—can make a meaningful difference. If you're thinking about buying or refinancing soon, it's worth knowing where you stand and what moves might help you most. Let's talk about where your credit sits and what it means for your options.
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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 Ken Janes team any time and we'll walk you through your options. |
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