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Mortgage Market Update
Holly L
Holly L Bennett Clark
Wednesday, September 2, 2026
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What your credit score really costs you |
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Hi there. I wanted to touch on something that often surprises people until they start the mortgage process.
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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 matters more than you think
When you're ready to buy or refinance, lenders look at more than just your income—they look at how responsibly you've managed debt in the past. Your credit score is one of the biggest factors that determine whether you qualify and what terms you'll receive. Even small improvements to your score can make a real difference in your loan options. If you're thinking about a mortgage in the next year or so, it's worth taking a hard look at your credit now. I'm happy to walk you through what lenders see and what you might do to strengthen your position before you apply. Let's talk about where your credit stands and what moves make sense for your situation.
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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 Holly L team any time and we'll walk you through your options. |
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