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Mortgage Market Update
My Mortgage Company
Jessica Portillo — Jessica Portillo
Thursday, September 3, 2026
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When rates move, your budget moves too |
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Hi there. This week I want to walk you through something that affects every borrower, whether you're buying or already a homeowner.
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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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Affordability Check
What changes when rates move
Interest rates don't just affect the rate you pay—they change what you can actually afford. When rates rise, your monthly payment climbs on the same loan amount, which means your purchasing power shifts. The reverse is true too: when rates fall, the same home becomes easier to finance. This matters whether you're shopping now, thinking about refinancing, or just wondering if your current mortgage still fits your budget. Understanding this connection helps you make smarter decisions about timing and loan choices. If you'd like to talk through how rate movement affects your specific situation, I'm here to help.
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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
Jessica Portillo — Jessica Portillo
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