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Mortgage Market Update
My Mortgage Company
Michael Fahey
Thursday, September 3, 2026
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The easiest way to save on interest |
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Hi there—I wanted to share something I've noticed helps a lot of homeowners feel more in control of their mortgage. It's simple, but it works.
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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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Smart Money
Why paying a little extra now pays off later
One of the easiest wins in homeownership is making extra payments toward your principal—even small amounts add up fast. When you pay down principal, you're reducing the total interest you'll pay over the life of your loan and building equity at a quicker pace. The math is straightforward: less principal means less interest charged. Many borrowers find it helpful to set a habit—whether that's rounding up your monthly payment or putting a tax refund toward principal. It doesn't take a huge payment to make a real difference. If you're curious about what an extra payment or two could mean for your specific loan, I'd love to walk through the numbers with you. Reach out and let's talk about what an accelerated payoff timeline could look like for you.
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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
Michael Fahey
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