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Mortgage Market Update
Johnathan Lee
Johnathan Lee
Thursday, September 3, 2026
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Your rate lock, explained simply |
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Hi there. Rate movements can feel confusing, especially when you're not sure what it means for your mortgage. Here's what you need to know.
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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
One of the most common questions I hear is whether borrowers are locked into today's rate forever—and the short answer is it depends on your loan type. If you have a fixed-rate mortgage, your payment stays the same for the life of the loan, which is one of the biggest advantages: predictability and protection if rates rise. But if you're considering an ARM or thinking about your next move, it's worth understanding how rate changes affect your financial picture. The sooner you know your options, the sooner you can make a choice that fits your comfort level and goals. Let's walk through what makes sense for your situation—just reach out when you're ready to talk.
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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 Johnathan Lee team any time and we'll walk you through your options. |
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