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Mortgage Market Update
My Mortgage Company
Gregory Vassilatos
Tuesday, October 20, 2026
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Your credit card balance and your mortgage rate |
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When you're applying for a mortgage, lenders look at more than just your credit score. Here's what else matters and why it's worth paying attention to.
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National Mortgage Rates · October 16, 2026
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Conventional 30-Year
7.28%
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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
Why your credit card balance matters to your mortgage
Here's something that surprises a lot of borrowers: your credit card debt can affect your mortgage approval and your interest rate, even if you pay on time every month. Lenders look at your debt-to-income ratio, which includes credit cards, car loans, and student debt alongside your mortgage payment. A high balance—even one you're managing well—can lower how much you qualify for or push you into a less favorable rate tier. The good news is that paying down balances before applying for a mortgage, or before refinancing, can meaningfully improve your position. It doesn't require perfection, just intentional moves in the right direction. If you're thinking about buying or refinancing soon, let's talk about where you stand and what moves might help you. I'd be happy to review your situation and show you what could make a difference.
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Tip of the Week
Your loan officer can run a credit simulator to show exactly which actions will move your score the most.
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Tips for Homeowners
Year-End Tax & Mortgage Planning
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1.
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Consider making your January mortgage payment in December to get an extra month of deductible interest in the current tax year (consult your tax advisor first).
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2.
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If you plan to sell next year, now is a good time to document improvements — receipts and records add to your cost basis and reduce taxable capital gain at sale.
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3.
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Review your W-4 withholding if you bought a home this year — your mortgage interest deduction may mean you're having too much withheld from each paycheck.
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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
Gregory Vassilatos
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