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Mortgage Market Update
My Mortgage Company
Kelly Rankin — Kelly Rankin
Wednesday, September 2, 2026
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What your credit score really means for a mortgage |
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Hi there. I want to talk about something that affects almost every borrower I meet—and it's often misunderstood.
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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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Credit & Qualification
Your credit score matters more than you think
I work with borrowers every week who are surprised to learn how much their credit score influences their mortgage terms. A stronger credit profile can open doors to better loan options and more favorable terms, while a lower score might limit your choices or cost you more over time. The good news is that credit isn't static—it moves. If you're thinking about buying or refinancing in the next year or two, understanding where you stand now gives you time to strengthen your position. I'd love to review your situation and talk about what makes sense for your timeline and goals. Let's have a quick conversation about where you stand and what your next step might be.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Kelly Rankin — Kelly Rankin
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