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Mortgage Market Update
Bruce Gruys
Bruce Gruys
Wednesday, September 2, 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
Your mortgage interest may be tax-deductible if you itemize. Check with your tax professional to see if it benefits you.
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Tips for Homeowners
Understanding Mortgage Points
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1.
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One mortgage point equals 1% of your loan amount. Paying points ("buying down the rate") reduces your interest rate — typically 0.25% per point, though this varies by lender and market.
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2.
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Calculate your break-even: divide the cost of the points by your monthly savings. If it takes 4 years to break even and you plan to stay 10 years, buying points makes sense.
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3.
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Points paid on a home purchase are generally tax-deductible in the year paid (if you itemize). Points on a refinance must be deducted over the life of the loan.
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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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