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Mortgage Market Update
My Mortgage Company
Atiyah
Thursday, September 3, 2026
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When rates move, your budget moves too |
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Hi there—I wanted to touch on something that comes up a lot in conversations with borrowers. Rate changes aren't just numbers; they directly affect what you can afford and what's realistic for your goals.
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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
What changes when rates move
When mortgage rates shift, it affects more than just your monthly payment—it can change which homes fit your budget and how much purchasing power you actually have. A rate increase might mean you qualify for less, while a rate decrease can open up new possibilities. The same home at different rates means different affordability math. That's why it's worth understanding how rate movements play into your bigger picture, whether you're shopping now or thinking ahead. If you're curious about what your true buying power looks like right now, or how changes might affect your plans, I'm here to walk you through it. Let's talk about what makes sense for your situation.
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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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