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Mortgage Market Update
Angelo Mirville
Angelo Mirville
Sunday, September 6, 2026
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How much equity do you actually have? |
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As your loan officer, I want to make sure you're thinking strategically about your home as an investment. This week, let's cover something many owners wonder about but don't always understand.
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National Mortgage Rates · September 3, 2026
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Conventional 30-Year
6.71%
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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 Basics
What your home equity actually means for you
Home equity is the difference between what your home is worth and what you still owe on your mortgage. As you make payments, your equity grows—and that matters because it's a financial asset you can tap into when you need it. Whether you're thinking about a major renovation, consolidating debt, or covering a big expense, knowing how much equity you have is the first step. The more you've paid down and the more your home has appreciated, the more options you may have. I always encourage homeowners to get a clear picture of their equity position at least once a year, so you know what resources are available to you if life throws something unexpected your way. Let's talk about what your equity could do for you—reach out anytime.
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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 Angelo Mirville team any time and we'll walk you through your options. |
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