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Mortgage Market Update
My Mortgage Company
Jillian Hartman
Tuesday, November 3, 2026
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Your credit score and your mortgage rate |
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I talk with a lot of borrowers who focus only on interest rates and miss the bigger picture—and that usually starts with credit. Here's what you need to 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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Paying Down Debt
Why your credit score matters more than you think
Your credit score isn't just a number—it directly affects the interest rate you'll qualify for on a mortgage. Lenders use it to assess risk, and even a small difference in your score can mean a meaningful difference in what you pay over the life of a loan. The good news is that building credit is something you control. Paying bills on time, keeping credit card balances low, and avoiding new debt before a mortgage application all move the needle. If you're thinking about buying or refinancing, it's worth taking a closer look at your credit profile now. A few months of intentional habits can make a real difference when you're ready to move forward. Let me know if you'd like help understanding where your credit stands and what might improve your mortgage picture.
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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
Jillian Hartman
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