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Mortgage Market Update
Kaelan Cheatham
Kaelan Cheatham
Thursday, September 3, 2026
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Where your mortgage payment really goes |
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Hi there—I wanted to share something I discuss with almost every borrower who sits down with me.
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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
What your monthly payment actually covers
A lot of people focus on their interest rate and forget about how their payment breaks down each month. Early on, most of what you pay goes toward interest—not principal. That changes over time, and understanding the pattern helps you see why paying a bit extra toward principal early can make a real difference. It also explains why a refinance might make sense at certain points, and why staying the course matters even when progress feels slow. I find that homeowners who understand their amortization sleep better at night, because they see exactly how their equity is building. Let's talk about your loan and where your payments are actually going. That conversation often reveals opportunities you didn't know existed. Reach out whenever you'd like to review how your payment breaks down.
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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 Kaelan Cheatham team any time and we'll walk you through your options. |
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