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Mortgage Market Update
James Oldham
James Oldham
Monday, November 2, 2026
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Your credit score matters more than you think |
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Hi there. This week I want to circle back to something that comes up in almost every conversation I have with borrowers—and it's worth understanding, whether you're buying now or just planning ahead.
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National Mortgage Rates · October 29, 2026
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Conventional 30-Year
7.15%
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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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Mortgage Basics
What your credit score actually controls
Your credit score touches almost every part of your mortgage—not just whether you qualify, but what you'll pay and which loan programs open up to you. A stronger score can mean access to better terms, lower interest rates, and more flexibility in how you structure your loan. Even a modest improvement can make a real difference over the life of a 15, 20, or 30-year mortgage. If you're thinking about buying soon or refinancing down the road, knowing where you stand on credit is a smart first step. I can walk you through what lenders look at and what might be holding you back. Let's talk about your credit and what it means for your mortgage 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 James Oldham team any time and we'll walk you through your options. |
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