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Mortgage Market Update
Christopher Austin
Christopher Robert Austin
Thursday, September 3, 2026
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Rate moves and your monthly payment |
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Hi there—I wanted to touch on something that comes up a lot in conversations with folks like you.
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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
When your rate changes, your payment does too
A lot of people ask me how much a rate move actually affects their monthly mortgage payment. The short answer: it matters more than you might think. Even a small shift in rates can change what you're comfortable paying each month, which in turn affects how much home you can afford. If you're thinking about buying, selling, or refinancing soon, understanding this relationship helps you make a smarter decision. It's worth taking a few minutes to see how current conditions line up with your own situation. I'm here to walk through the numbers with you whenever you're ready. Let's talk about what makes sense for your budget right now.
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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 Christopher Austin team any time and we'll walk you through your options. |
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