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Mortgage Market Update
My Mortgage Company
Dakota Howard
Thursday, September 3, 2026
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When rates move, what should you do? |
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Hi there, I wanted to share something I'm discussing with clients this week about rate changes and what they really mean for your wallet.
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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 Money Moves
What to do when rates shift
When mortgage rates move, it changes the math on your home loan — but not always in the way you might think. A rate increase makes new borrowing more expensive, which can affect both what you qualify for and your monthly payment. But if you already have a loan locked in, your payment stays the same. The real question is whether a shift in rates makes sense for your situation: refinancing to a lower rate, staying put, or adjusting your timeline if you're shopping. Every borrower's answer is different, and it depends on your goals, timeline, and current loan terms. Reach out if you'd like to talk through what a rate move means for your specific situation.
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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 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
Dakota Howard
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