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Mortgage Market Update
My Mortgage Company
James Young
Thursday, September 3, 2026
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Sitting on unused home equity? |
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Most homeowners don't realize they have options when it comes to the equity they've built. This week, I'm sharing why now might be the right time to take a closer look.
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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 Strategy
Your equity could work harder for you
If you've owned your home for a few years, you've likely built up equity—the difference between what your home is worth and what you still owe. Most homeowners sit on that equity without realizing it can be a tool. Whether you're thinking about a major renovation, consolidating debt, or funding education costs, tapping into your equity through a refinance or a home equity line of credit might make sense. The key is understanding your options and running the numbers so you know what the real impact is on your monthly budget and long-term goals. Everyone's situation is different, and timing matters. I'd love to walk you through what's possible for your specific situation. Give me a call when you're ready to explore whether accessing your equity makes sense.
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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
James Young
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