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Mortgage Market Update
My Mortgage Company
Charles Skinner — Charles Skinner
Thursday, September 3, 2026
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Rate changes and your monthly payment |
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Hi there,
This week I want to clear up something I hear questions about often: how interest rates actually affect what you pay each month.
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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
What happens to your mortgage when rates move
Interest rates and your monthly payment are closely tied together, but the relationship depends on your loan type. If you have a fixed-rate mortgage, your payment stays the same for the life of the loan — rate changes don't touch it. With an adjustable-rate loan, your payment can shift when the rate adjusts. Understanding which type you have, and what to expect down the road, helps you plan your household budget with confidence. Whether you're curious about what a rate environment means for your existing loan or you're exploring options before you buy, I'm here to walk you through it. Let's talk about what your loan structure means for your future — reach out anytime.
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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
Charles Skinner — Charles Skinner
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