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Mortgage Market Update
Kyle Cosky
Kyle Cosky
Tuesday, November 3, 2026
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When your credit score matters most |
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Most of us don't think about our credit score until we need to. Here's what you should know if yours has changed recently.
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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 if your credit score drops
Your credit score isn't locked in stone — it moves based on how you use credit month to month. If your score has taken a dip recently, you're probably wondering whether it affects your mortgage options. The short answer: it can. A lower score may change which loan programs you qualify for, or shift the terms available to you. But here's the good news — credit can improve, and there are steps you can take right now. Even small moves, like paying down existing balances or clearing up old mistakes on your report, help. If you're thinking about buying or refinancing soon, understanding where you stand today gives you time to strengthen your position before you apply. Let's talk about your credit and what makes sense 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 Kyle Cosky team any time and we'll walk you through your options. |
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