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Thursday, September 3, 2026 |
Mortgage Market Update
The number you should care about most
Hi there — I wanted to share something I've noticed after years of doing this work.
National Mortgage Rates · August 27, 2026 |
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30-Year Fixed
6.66%
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FHA 30-Year
6.56%
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Source: Freddie Mac PMMS & Optimal Blue via FRED |
Check My Rate →
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Smart Money
Why your mortgage payment matters more than the rate
I talk about interest rates a lot — and they do matter. But here's what I see most often: borrowers focus so heavily on rate that they lose sight of what actually hits their bank account each month. Your payment is what you live with every single month for the next 15 or 30 years. A lower rate is great, but not if it comes with a longer loan term or higher fees that don't make financial sense for your situation. Before you chase the lowest rate you've heard about, ask yourself: Does this loan fit my budget? Am I building equity at a pace I'm comfortable with? Will I stay in this home long enough to recoup closing costs? Those questions matter as much as any rate quote.
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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 Andrew Karam - Edge Home Finance, LLC team any time and we'll walk you through your options.
Schedule a consultation →
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