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Mortgage Market Update
Bruce Gruys
Bruce Gruys
Thursday, September 3, 2026
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Your credit score is worth a closer look |
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Hi there. This week I want to talk about something that quietly influences your mortgage more than most people 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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Smart Borrowing
Why your credit score matters more than you think
Your credit score isn't just a number—it's one of the biggest factors lenders use to decide your loan terms. A higher score can open doors to better rates and more favorable loan options, while a lower score might limit your choices or cost you money over time. The good news is that credit isn't fixed. Small improvements now, like paying bills on time and keeping credit card balances low, can make a real difference when you're ready to buy or refinance. If you're curious about where you stand or what moves might help your score, I'd be happy to talk through it with you. Let's discuss 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 Bruce Gruys team any time and we'll walk you through your options. |
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