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Mortgage Market Update
My Mortgage Company
Brad Powers
Thursday, September 3, 2026
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Your home equity might be more useful than you think |
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Hi there. This week I want to talk about something a lot of homeowners have but don't always know how to use.
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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 you can actually do with your equity
Once you build equity in your home, you're sitting on an asset you can use. A lot of homeowners don't realize they have options beyond just waiting. Depending on where you are in your mortgage, you might refinance into a new loan, open a home equity line of credit, or explore a cash-out refi if you need funds for a major expense, home improvement, or debt consolidation. The key is understanding what makes sense for your specific situation—your timeline, your goals, and what the numbers actually look like. If you've been in your home a few years and think you might have built some equity, it's worth a conversation. I can walk you through what options exist and whether any of them make sense for you. Give me a call or send a message if you'd like to explore what your equity could do for you.
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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
Brad Powers
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