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Mortgage Market Update
Megan Maruna
Barrett Financial Group
Thursday, September 3, 2026
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Why your mortgage payment might change |
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Hi there—I wanted to touch base about something that comes up a lot in conversations with borrowers: how rates actually affect the money you pay each month.
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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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Monthly Budget
What happens to your mortgage payment when rates change
When interest rates move, your monthly payment moves with them—but only if you're refinancing or taking out a new loan. If you're locked into a fixed-rate mortgage, your payment stays the same for the life of the loan, which is one of the biggest advantages of fixed-rate borrowing. That said, understanding how rates affect affordability matters when you're shopping for a home or considering a refinance. A change in rates can shift what you're able to borrow and what you'll actually pay each month. It's one reason I always encourage borrowers to think beyond today's rate and build a realistic budget they can live with comfortably. If you're curious about how current rates might affect your specific situation, I'd love to walk through the numbers with you. Reach out whenever you'd like to talk through what rates mean for your budget.
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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 Megan Maruna team any time and we'll walk you through your options. |
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