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Mortgage Market Update
Kyle Cosky
Kyle Cosky
Friday, November 6, 2026
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Your credit score affects your mortgage rate |
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Hi there. Credit scores and mortgage rates are more closely linked than many borrowers realize. Here's what you should know.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey
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 and your mortgage rate are connected
One of the most direct levers you control before applying for a mortgage—or refinancing an existing one—is your credit health. Lenders use your credit score as a signal of how reliably you've managed debt in the past, and that score influences the rate you're offered. The better your score, the better terms you may qualify for. If you're thinking about buying or refinancing soon, it's worth pulling your credit report now, checking for errors, and giving yourself time to address any red flags. Even modest improvements can shift what's available to you. I'm always happy to walk through what lenders typically look for and what steps might help before you apply. If you'd like to talk through your credit and what it might mean for your mortgage options, let's connect.
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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 Kyle Cosky team any time and we'll walk you through your options. |
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