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Mortgage Market Update
My Mortgage Company
Jake Yates
Thursday, September 3, 2026
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Do you know how much equity you have? |
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I work with homeowners who are surprised to learn they have more financial flexibility than they thought. This week, I want to share a simple reality about home equity that might apply to you.
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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
Your home equity might be working harder than you think
If you've owned your home for a few years, there's a good chance you've built up equity—the difference between what your home is worth and what you still owe. That equity isn't just sitting there. It can be a real financial tool when you need it: to cover a major repair, pay off higher-interest debt, or fund a home improvement that adds value back. A cash-out refinance or home equity line of credit are two common ways to access it. The key is understanding what makes sense for your situation—and what the real costs are. I'd be happy to walk you through your options and what they might look like for your specific home and loan. Let's talk about whether tapping your equity makes sense right now.
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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
Jake Yates
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