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Mortgage Market Update
Denise Marquez
Denise Marquez
Thursday, September 3, 2026
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Renovation pitfalls and HOA shock: What to watch for |
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This week we're looking at some real wallet-hitting situations that homeowners face—from renovation mistakes to surprise fees. We've picked out the stories that could actually affect your bottom line.
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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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Payment Planning
Why your mortgage payment might change (and when)
One question I hear often: 'Will my payment stay the same?' The answer depends on what kind of loan you have. If you've locked in a fixed-rate mortgage, your principal and interest payment won't budge for the life of the loan—that's the security of fixed-rate borrowing. But other costs tied to your mortgage can shift. Property taxes may increase, homeowners insurance premiums adjust, and if you're in escrow, those changes flow into your monthly payment. Understanding what's fixed and what can move helps you budget with confidence and spot changes before they happen.
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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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Realtor.com
The costliest remodeling problems aren't about construction quality—they happen during the planning phase when homeowners skip important conversations with their contractor. Getting clear on scope, budget, and expectations upfront can save you tens of thousands of dollars down the road.
| Key takeaway: spend extra time on planning and communication with your contractor before breaking ground. |
Read full article →
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Realtor.com
Homeowners in a Santa Cruz-area development faced an unexpected emergency assessment that some believe violated HOA rules. This story is a reminder that even after you buy, surprise fees from your homeowners association can significantly impact your finances.
| Key takeaway: understand your HOA's assessment authority and your state's laws before buying a condo or in an HOA community. |
Read full article →
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Realtor.com
A potential tenant fell victim to an increasingly sophisticated rental fraud scheme that cost him a significant sum of money. As scams get harder to spot, renters need to know what warning signs to watch for and how to verify legitimate listings.
| Key takeaway: always verify the property owner's identity and use official channels before sending any money for rent or deposits. |
Read full article →
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Realtor.com
Many families are willing to pay more for homes in locations where they can walk their kids to school, factoring this into their buying decisions. This trend reflects how location and lifestyle convenience can influence both affordability and long-term satisfaction with a home purchase.
| Key takeaway: if school walkability matters to your family, it may be worth budgeting for a location premium to gain that convenience. |
Read full article →
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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 Denise Marquez team any time and we'll walk you through your options. |
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808 RT 15 S, Lake Hopatcong, NJ 07849
201-456-7475 | https://www.dm-mtg.com/
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