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Mortgage Market Update
Aaron Perkins
Thursday, September 3, 2026
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The number that matters most in a mortgage |
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Hi there—I want to share something I've learned after years in this business. When it comes to mortgages, there's one number that matters more than you might think.
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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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Home Affordability
Why your budget matters more than rates
When people think about buying or refinancing, they often focus on interest rates first. But here's what I see happen: a borrower gets excited about a rate drop, only to realize their monthly payment still stretches their budget too thin. The real question isn't "what's the lowest rate?" It's "what payment fits my life?" Your income, expenses, and financial goals should drive your loan decision—not the other way around. If you're shopping for a home or considering a refinance, let's talk about what actually works for your situation, not just what's available. I'd be glad to walk through your numbers and find an option that genuinely works for you.
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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 Aaron Perkins team any time and we'll walk you through your options. |
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