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Mortgage Market Update
My Mortgage Company
Brett Stratton
Thursday, September 3, 2026
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Rate lock: here's what actually protects you |
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Markets move. Your loan protections matter. Let me explain how they work.
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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
What to do if rates rise before you close
If you're in the middle of buying or refinancing, rate movements between now and closing can feel unsettling. Here's the reality: a rate lock protects you during the loan process, so your rate won't change unless you ask it to. But if rates drop significantly after you lock, you may have options to renegotiate. If rates rise, your lock keeps you safe. The key is understanding what you locked, when it expires, and what flexibility your loan program allows. Every situation is different, which is why it helps to talk through the details with your lender before surprises happen. I'm here to walk you through it. Let's review your lock terms and make sure you're covered.
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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
Brett Stratton
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