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Mortgage Market Update
Jasmine Wright
Mortgages the Wright Way
Thursday, September 3, 2026
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When rates move, here's what changes for you |
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Hi there—I wanted to share something important about how mortgage rates affect your real buying power. Understanding this one concept can save you stress and money down the road.
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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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Home Affordability
What happens to your buying power when rates shift
Rate changes hit your wallet faster than you might think. When rates move up, your monthly payment grows on the same loan amount—which means you can afford less house for the same budget. The reverse is true too: lower rates can stretch your purchasing power. This matters whether you're shopping now or thinking about your next move. Understanding this relationship helps you make smarter decisions about timing, down payment size, and which properties actually fit your financial picture. If you're wondering how current conditions affect what you can afford, let's talk through your specific situation. Reach out and we can run some numbers based on where rates are today.
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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 Jasmine Wright team any time and we'll walk you through your options. |
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