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Mortgage Market Update
Eitan Shafshak
Thursday, September 3, 2026
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Your monthly payment: what actually matters |
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When you're thinking about a mortgage, interest rates get all the attention. But I've found that borrowers are often more concerned—and rightly so—with what they'll actually pay each month.
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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 & Payment
Why your monthly payment matters more than the rate
I talk to borrowers all the time who focus heavily on interest rates—and they should, rates do matter. But here's what I've learned: the payment you make each month is what actually hits your budget. Two loans with similar rates can have very different payments depending on the loan term, down payment, and loan type you choose. A slightly higher rate on a shorter loan, for example, might mean a lower overall cost than a lower rate stretched over a longer period. The real question isn't just "what's the rate?" It's "what payment am I comfortable with, and does it align with my long-term goals?" I'd love to walk through your numbers and show you how different scenarios play out for your situation. Let's talk about what payment works best for you.
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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 Eitan Shafshak team any time and we'll walk you through your options. |
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