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Mortgage Market Update
Team Dayton
Team Dayton
Thursday, September 3, 2026
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When rates fall, what should you do? |
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Hi there—rates don't stay static, and neither should your strategy. Here's what you need to know when the market shifts.
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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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Smart Money
What happens to your mortgage when rates drop
When interest rates fall, homeowners often think about refinancing—but there's something else worth understanding first. Your current mortgage payment stays exactly the same unless you choose to refinance. What changes is the opportunity: if rates move lower, you might be able to refinance into a new loan with a lower rate, which could reduce your monthly payment or shorten your loan term. The key is knowing when that move makes financial sense for your situation. Every home and every loan is different, so it's worth a conversation to see if refinancing aligns with your goals. Let's talk about whether a rate drop opens a smart move 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 Team Dayton team any time and we'll walk you through your options. |
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(253) 532-5626
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