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Mortgage Market Update
My Mortgage Company
Kaleb Melville — Kaleb Melville
Thursday, September 3, 2026
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What a rate really costs you over time |
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Hi there. I wanted to share something that comes up in almost every conversation I have with borrowers—and it's worth understanding well.
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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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Mortgage Basics
Why your interest rate matters more than you think
Your interest rate isn't just a number on paper—it shapes your entire loan. A lower rate means lower monthly payments, less interest paid over the life of your loan, and more money staying in your pocket. Even a small difference in rate can add up to thousands of dollars over 15 or 30 years. Understanding how rates affect your situation helps you make smarter decisions, whether you're buying now, refinancing later, or simply curious about your options. If you'd like to talk through what rates mean for your specific goals, I'm here to walk you through it. Let's discuss what your rate picture looks like—reach out anytime.
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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
Kaleb Melville — Kaleb Melville
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