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Mortgage Market Update
Option Mortgage
Option Mortgage
Thursday, September 3, 2026
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What rate changes mean for your budget |
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Interest rates and your monthly payment are linked in ways that catch a lot of borrowers off guard. Here's what you need to know.
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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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Home Affordability
When rates rise, your buying power changes
I talk to a lot of people who are surprised to learn that the same monthly budget doesn't stretch as far when rates move up. That's because a bigger chunk of each payment goes toward interest rather than building equity in your home. The good news: understanding this relationship helps you make smarter decisions about timing, down payment size, and which homes are realistic for your situation. Whether you're shopping now or thinking ahead, it's worth running the numbers with me so you know exactly what you can afford—not just what a calculator says, but what actually works for your life. Let's talk through your specific situation and find out where you stand.
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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 Option Mortgage team any time and we'll walk you through your options. |
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