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Mortgage Market Update
Gaston Garrido
Gaston Garrido
Thursday, September 3, 2026
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How much equity are you sitting on? |
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Hey there. This week I want to bring up something a lot of homeowners don't think about until they need it—the equity they've already built.
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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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Equity Awareness
Do you know how much equity you've built?
If you've been paying down your mortgage for a few years, you likely have more equity in your home than you realize. Equity is the difference between what your home is worth and what you still owe on it—and it can open doors. Some borrowers use it to fund renovations, consolidate debt, or tap into it when life happens. The best part? You don't have to do anything with it right now. But knowing the number gives you options. A quick conversation can help you understand exactly where you stand and what might make sense for your situation down the road. Let's talk about your equity and what it could mean for you.
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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 Gaston Garrido team any time and we'll walk you through your options. |
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