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Mortgage Market Update
Giovanni Acosta
Giovanni Acosta
Thursday, September 3, 2026
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Rate lock: timing matters |
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Hi there. This week I want to tackle a question I hear often: when should you actually lock in your rate?
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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
Should you lock in your rate today?
Rate locks can feel urgent, and sometimes they should be. When you're in active underwriting and closing is weeks away, locking protects you from rate movement between now and signing. But if you're still shopping or deciding whether to buy or refinance, locking early means you're paying to hold a rate you might not even use. The right move depends on your timeline, the market direction, and your comfort with uncertainty. I help clients think through the trade-offs so the decision feels confident, not panicked. Ready to talk through where you stand?
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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 Giovanni Acosta team any time and we'll walk you through your options. |
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120 Kisco Ave Suite T, Mount Kisco, NY 10549
www.homepluscapital.com
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