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Mortgage Market Update
My Mortgage Company
Priscilla Nieves
Thursday, September 3, 2026
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When home equity becomes an opportunity |
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There's a lot of noise around mortgages and money. Here's what actually matters to you this week.
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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 Equity
What your equity can do for you
If you've been in your home for a few years, you likely have built equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper; it can be a financial tool. Some homeowners use it to fund home improvements, consolidate debt, or cover major expenses through a cash-out refinance or home equity line of credit. Others leave it alone and let it grow. The right choice depends on your goals, timeline, and comfort level. Understanding what options are available to you is the first step toward making a decision that fits your situation. I'd be happy to walk you through how equity works and what might make sense for you—just reach out.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Priscilla Nieves
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