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Mortgage Market Update
John Kunkel
John Kunkel
Thursday, September 3, 2026
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One thing you might not know about your payment |
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Hi there. This week I want to share something I see homeowners overlook all the time—and it's worth knowing about before it surprises you.
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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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Smart Money
Why your home payment might change even if rates stay the same
Most people think their mortgage payment is locked in for life, but there's one thing that can move the needle without any action on your part: property taxes and homeowners insurance. As your home value appreciates or local assessments shift, these costs can climb, which means your actual monthly payment (including taxes and insurance) can rise even when your interest rate doesn't budge. It's not dramatic month-to-month, but over a few years it adds up. The silver lining? Understanding this now means you can budget for it and aren't caught off guard. If you're curious about what your payment really includes or want to talk through ways to stay ahead of these changes, I'm here to walk you through it. Let's review your escrow and make sure you're prepared for what's ahead.
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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 John Kunkel team any time and we'll walk you through your options. |
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