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Mortgage Market Update
Tyler Burns
Lifestyle Lending
Thursday, September 3, 2026
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What's actually in your closing costs |
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Hi there—whether you're thinking about buying, selling, or refinancing soon, closing costs are going to come up. Let me break down what you're really paying for.
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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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Closing Costs
What closing costs actually cover
When you're buying a home or refinancing, closing costs can feel like a mystery—sometimes thousands of dollars you didn't expect. But there's a reason for each charge. Your closing costs cover things like title insurance to protect your ownership, appraisal fees to verify the home's value, underwriting to make sure your loan is solid, and recording fees so your deed gets filed properly. Some costs go to your lender, some to your realtor, some to the title company. Understanding what you're paying for helps you spot what's reasonable and what questions to ask. I'm happy to walk you through your estimate line by line so there are no surprises at the table. Reach out if you'd like me to explain your closing costs or answer questions about what to expect.
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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 Tyler Burns team any time and we'll walk you through your options. |
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