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Mortgage Market Update
My Mortgage Company
Rachel Barrett's Account
Thursday, September 3, 2026
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How much equity have you built in your home? |
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Hello, and thanks for staying in touch. This week I want to remind you of something that's probably happening right now in your mortgage account.
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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 Building
Your home is quietly building wealth for you
Every mortgage payment you make does two things: it covers interest and reduces what you owe. That second part is equity—the real ownership stake you're building in your home. Over time, as you pay down your loan balance, your equity grows. It's one of the most powerful wealth-building tools available, and it happens automatically whether you think about it or not. Some of you may have built significant equity already, especially if you've been in your home for several years or if your home's value has appreciated. That equity can be tapped for major expenses, home improvements, or other financial goals through a refinance or line of credit. If you're curious about how much equity you've built, or whether it makes sense to use it, I'd love to walk you through your options. Let's talk about what your equity means for your financial future.
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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
Rachel Barrett's Account
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