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Mortgage Market Update
Edgar Franco
Edgar Franco
Thursday, September 3, 2026
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What's actually in your mortgage payment? |
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When we talk about your monthly mortgage payment, it's easy to think of it as one number. But there's more to the story—and knowing the details can help you manage your money better.
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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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Affordability Check
What your monthly payment really includes
A lot of homeowners are surprised to learn what goes into that mortgage payment each month. It's not just principal and interest—there's also property taxes, homeowners insurance, and often mortgage insurance, all bundled together. Understanding this breakdown matters because it helps you see where your money is going and spot opportunities to adjust. For instance, as your home value increases and you build equity, you may eventually be able to drop mortgage insurance. Or a tax reassessment might shift your payment. Knowing the components means you're not caught off guard, and you can plan smarter. I'd love to walk you through your current payment structure and see if there are any moves worth exploring. Let's review what you're paying each month and talk through your options.
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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 Edgar Franco team any time and we'll walk you through your options. |
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