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Mortgage Market Update
My Mortgage Company
Jorge Ramirez
Friday, November 6, 2026
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What your credit score actually controls |
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Hello,
One of the most common questions I hear is how credit affects a mortgage. 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
Why your credit score matters more than you think
Your credit score isn't just a number—it's the biggest factor lenders use to decide whether to approve you and what rate they'll offer. Even small improvements can make a real difference in your borrowing power. If you're planning to buy, refinance, or just want to understand where you stand, knowing your score and the factors that drive it is the first step. The good news: credit is something you can influence with smart habits over time. I've helped plenty of borrowers strengthen their position before applying, and it's always worth the effort. Let me know if you'd like to talk about where your credit stands and what moves make sense for your goals.
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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
Jorge Ramirez
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