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Mortgage Market Update
My Mortgage Company
Sean Fretwell
Tuesday, November 3, 2026
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Your credit score and your mortgage |
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Hi there. I spend a lot of time explaining why one borrower's rate is different from another's—and credit is almost always part of that story.
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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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Smart Borrowing
Why your credit score matters more than you think
Your credit score isn't just a number—it's one of the biggest drivers of what you'll pay over the life of a loan. A stronger score can open doors to better terms, while a lower one might mean higher costs across the board. The good news is that credit isn't fixed. If yours needs work, there are real steps you can take: paying down existing balances, making on-time payments, and fixing any errors on your report. Even small improvements can make a meaningful difference when you're ready to buy or refinance. I'd love to walk you through where you stand and what's possible from here. Let's talk about your credit and what it 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 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
Sean Fretwell
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