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Mortgage Market Update
Gary Bourgeois
Gary Bourgeois
Thursday, September 3, 2026
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How much equity have you built so far? |
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Hi there—I'm sharing what's on my mind this week about homeownership and money.
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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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Equity Building
Your home is working for you every month
Every mortgage payment you make builds equity—that's the portion of your home's value you actually own. It's easy to overlook because the money goes to your lender, not your pocket, but over time this adds up to real wealth. The longer you stay in your home, the faster equity grows, especially if your home appreciates or you refinance to a shorter loan term. Knowing your equity matters because it gives you options down the road: you might tap it for a home improvement, use it to avoid PMI on a refinance, or simply feel more financially secure. I'd love to help you understand where your equity stands today and what it might mean for your future. Reach out and let's talk about your equity position—I can pull your numbers and walk you through it.
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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 Gary Bourgeois team any time and we'll walk you through your options. |
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