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Mortgage Market Update
Pete Ruberti
Pete Ruberti
Thursday, September 3, 2026
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How much does a rate change really cost? |
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Hi there. This week I want to explain something that affects every homeowner and borrower—how interest rate movements hit your wallet.
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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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Affordability & Payments
What changes when rates move
When interest rates shift, your monthly payment moves with them—even if nothing else about your loan changes. A higher rate means more of each payment goes toward interest rather than building equity in your home. The opposite is true when rates drop. Understanding this relationship helps you make smarter decisions about whether to refinance, when to lock in a rate, or how to plan your budget. I'm always happy to walk through what a rate change would mean for your specific situation. Let's talk through how current rates affect your options—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 Pete Ruberti team any time and we'll walk you through your options. |
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