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Mortgage Market Update
My Mortgage Company
Kirk Alvarez
Thursday, September 3, 2026
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Do you know how much equity you have? |
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Every month you pay your mortgage, you're building equity in your home. But many homeowners aren't sure what that actually means or what they can do with it.
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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 & Cash Out
How much equity are you sitting on?
If you've owned your home for a few years, there's a good chance you've built up equity—that's the difference between what your home is worth and what you still owe on your mortgage. That equity can be a real financial tool. Some homeowners tap into it to pay off debt, fund home improvements, or cover major expenses. The way you access it matters, though, and the timing can affect your costs. I always recommend taking a clear look at how much equity you have and what makes sense for your situation. It's worth a conversation—no obligation, just a chance to see what options might work for you. Let's talk about your home's equity and what you might do with it.
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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
Kirk Alvarez
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