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Mortgage Market Update
CJ Cunningham
CJ Cunningham
Thursday, September 3, 2026
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Your budget might be bigger than you think |
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Hi there. This week I want to talk about one of the most important conversations we can have: what you can actually afford.
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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
When your budget stretches further than you think
A lot of people assume their home-buying budget is locked in stone, but the truth is more flexible. Your actual purchasing power depends on several moving pieces—what you put down, the interest rate you lock, how long you finance, and even your credit profile. Small shifts in any of these can open up different possibilities for what home you can afford. That's why I always encourage borrowers to look beyond just the headline price tag. Understanding your true budget means you're not caught off guard, and you can shop with confidence knowing what's actually within reach for your situation. Let's talk about what you can really afford—reach out and we'll walk through your numbers.
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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 CJ Cunningham team any time and we'll walk you through your options. |
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