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Mortgage Market Update
Matthew McGuire
Matthew McGuire
Thursday, September 3, 2026
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What your credit score tells lenders |
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Hi there. This week I want to cover something that often surprises borrowers—how closely your credit connects to the mortgage terms you'll qualify for.
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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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Credit & Borrowing
Your credit score and your mortgage rate
I talk to borrowers all the time who don't realize how much their credit score influences the interest rate they'll pay. The better your credit profile, the more favorable terms lenders can offer you—which adds up to real savings over the life of your loan. Whether you're applying for a mortgage, thinking about refinancing, or just want to understand where you stand, knowing your credit health is step one. Small moves now—like paying bills on time or managing your credit utilization—can make a meaningful difference down the road. I'd love to walk you through what lenders see and what you can do to put yourself in the strongest position possible. Let's talk about your credit and what it means for your next mortgage move.
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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 Matthew McGuire team any time and we'll walk you through your options. |
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