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Mortgage Market Update
My Mortgage Company
Grisel Maldonado
Friday, November 6, 2026
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Credit score and your mortgage rate |
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Hi there—this week I want to talk about something that quietly shapes every mortgage offer you'll get. Your credit score is one of the biggest levers you control.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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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 matters more than you think
Your credit score isn't just a number—it directly shapes what you pay for a mortgage. Better credit generally means better rates, which adds up to real savings over the life of your loan. Even small improvements to your score can make a difference. The good news: credit scores move. Paying down balances, catching up on late payments, and keeping old accounts open all help. If you're thinking about buying or refinancing soon, now's a smart time to check where you stand. I can walk you through what lenders see and which moves matter most for your situation. Get in touch, and let's review your credit profile together.
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Tip of the Week
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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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
Grisel Maldonado
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