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Mortgage Market Update
My Mortgage Company
Tom Rydberg
Thursday, September 3, 2026
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Should you borrow against your home? |
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Hi there,
This week I want to talk about a tool many homeowners overlook until they really need it.
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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
When it makes sense to tap your home equity
If you've built equity in your home, you have options. A home equity loan or line of credit can let you borrow against that equity for major expenses—repairs, education, consolidating debt, or other goals. The appeal is real: home equity borrowing often carries a lower rate than credit cards or personal loans because your home backs the loan. But it's not free money. You're putting your home at risk if you can't repay, and you're extending your debt obligation. The key is borrowing with intention—only when you have a clear plan to repay and a genuine need, not just because the money is available. If you're thinking about accessing your equity, I'd love to walk you through what makes sense for your situation. Reach out if you'd like to explore your equity options and what they might mean for your goals.
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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
Tom Rydberg
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