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Mortgage Market Update
My Mortgage Company
Raymond F Rodrigues
Tuesday, November 3, 2026
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What matters more than your credit score |
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A strong credit score opens doors, but lenders look deeper than just that number. Here's what else they consider — and how it affects you.
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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 isn't the only thing lenders see
When you apply for a mortgage, we pull your credit report — but that three-digit score tells only part of the story. Lenders also look at your debt-to-income ratio: how much you owe each month relative to what you earn. A high ratio can limit your borrowing power, even if your credit score is solid. The good news is that paying down existing debt before you apply can make a real difference. It doesn't happen overnight, but even small reductions in monthly obligations can strengthen your application and improve the loan options available to you. If you're thinking about buying or refinancing in the coming months, I'd love to walk you through what lenders will see when they review your file. Let's talk about where you stand right now.
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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
Raymond F Rodrigues
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