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Mortgage Market Update
My Mortgage Company
Julio C Quintana — Julio C Quintana
Thursday, September 3, 2026
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Your mortgage payment and interest rates explained |
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Hi there. Each week I share what's on my mind about mortgages, home equity, and smart money moves that matter to homeowners and buyers 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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Payment Planning
What happens to your mortgage when rates shift
If you've been watching rates move, you might wonder how changes affect your monthly payment. Here's what's important to understand: if you locked in a fixed-rate mortgage, your payment stays the same for the life of the loan—rate movements don't touch it. But if you're shopping for a home or considering a refinance, rate changes directly impact what you'd owe each month. Even small shifts add up over 30 years. That's why it pays to understand how rates work and where your finances stand before you make a move. I'm here to walk you through the math and help you see what different scenarios might look like for your situation. Reach out anytime—I'm happy to talk through how rates might affect your options.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Julio C Quintana — Julio C Quintana
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