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Mortgage Market Update
Joseph Kennaley
Joseph Kennaley
Thursday, September 3, 2026
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Your credit score matters more than you think |
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Hi there. This week I want to walk you through something that affects your mortgage more than most borrowers realize.
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National Mortgage Rates · August 27, 2026
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Source: Freddie Mac PMMS & Optimal Blue via FRED
Rates shown are national averages 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
I talk with borrowers all the time who wonder why their neighbor got a better rate than they did. Often, it comes down to credit. Your credit score is one of the biggest factors lenders use to price your loan — and it can swing your rate significantly. The good news: you don't need a perfect score to qualify, and even small improvements can add up to real savings over the life of your loan. If you're thinking about buying or refinancing soon, now's a smart time to check your credit report for errors and understand where you stand before we talk numbers. Let's review your credit situation and talk about what works for your financial picture.
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Tip of the Week
Schedule a plumber to inspect older homes for slow leaks — water damage is expensive and often hidden until it's serious.
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Tips for Homeowners
Jumbo Loans: What They Are and How They Work
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1.
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A jumbo loan exceeds the conforming loan limit set by the FHFA — $766,550 in most areas for 2024, higher in designated high-cost markets. These loans can't be sold to Fannie Mae or Freddie Mac.
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2.
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Jumbo loans typically require stronger credit (often 700+), larger down payments (10–20%), and more cash reserves. Underwriting is more thorough and can take longer.
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3.
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Rates on jumbo loans are sometimes comparable to or even lower than conforming rates, depending on market conditions. Don't assume a jumbo loan means a worse deal — shop lenders.
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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 Joseph Kennaley team any time and we'll walk you through your options. |
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