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Mortgage Market Update
Matt Combs
Mortgage Pro
Thursday, September 3, 2026
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Your rate vs. their rate: what's the difference? |
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It's natural to compare notes with friends and family about mortgages. But one conversation I want to clear up is why rates vary so much from person to person.
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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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Rate Environment
Why your neighbor's rate isn't your rate
I hear this a lot: "My friend just locked in a really low rate—why can't I get that?" The truth is, mortgage rates are personalized. Your rate depends on your credit score, down payment size, loan type, property details, and lender pricing. Two people applying on the same day can walk away with different numbers. That's not a mistake—it's how lending works. The best move is to focus on your own situation, not someone else's deal. If you're curious where you'd stand today, I'm happy to run some real numbers based on your actual profile. Reach out and we can talk through what's realistic for your specific circumstances.
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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 Matt Combs team any time and we'll walk you through your options. |
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