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Mortgage Market Update
Harris Nightingale
Harris Nightingale
Wednesday, September 2, 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
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 Harris Nightingale team any time and we'll walk you through your options. |
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