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Mortgage Market Update
Harris Nightingale
Harris Nightingale
Thursday, September 3, 2026
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One thing lenders check before anything else |
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Hi there. This week I want to talk about something that quietly shapes every mortgage conversation: your credit profile.
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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 that determines whether you qualify for a loan and what terms you'll get. Even a modest difference in your score can shift your loan options, monthly payment, and total cost over time. The good news is that credit isn't fixed. Many borrowers don't realize how manageable improvements can be: paying down existing balances, fixing reporting errors, or simply keeping accounts in good standing. If you're thinking about buying, refinancing, or just want to understand where you stand, I'm happy to walk through what lenders look at and what steps might help your situation. Reach out anytime—I can pull a quick snapshot of where your credit sits and what it means for your options.
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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 Harris Nightingale team any time and we'll walk you through your options. |
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