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Mortgage Market Update
Derek Mollin
Derek Mollin
Thursday, September 3, 2026
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Built equity in your home lately? |
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Hi there, I wanted to share something that catches a lot of homeowners off guard: you may have built more financial flexibility than you realize. Here's what I mean.
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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 & Options
You might have more borrowing power than you think
If you've owned your home for a few years, chances are you've built equity—the difference between what your home is worth and what you owe on your mortgage. That equity can be a real financial tool. Some homeowners use it to consolidate debt, fund home improvements, or cover major expenses without taking on high-interest loans. The most common ways to tap into equity are a home equity line of credit, a home equity loan, or a cash-out refinance. Each has different terms and trade-offs, so it's worth understanding which might make sense for your situation. If you're curious whether you have equity to work with and what your options might look like, I'd love to walk you through it. Let's talk about what equity you may have built and whether it could help you reach a financial goal.
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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 Derek Mollin team any time and we'll walk you through your options. |
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