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Mortgage Market Update
Brandy Harris
Brandy Harris
Thursday, September 3, 2026
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Should you lock your rate right now? |
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Choosing when to lock in your mortgage rate is one of the tougher decisions in the lending process. Let me break down the thinking so you can decide with confidence.
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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
When to lock in your rate (and when to wait)
Rate locks exist for a reason: they protect you during the loan process so your monthly payment doesn't change if the market moves. But timing matters. If rates are historically high and falling, locking early gives you peace of mind. If rates are stable or climbing, waiting might cost you—or save you, depending on how fast things move. There's no crystal ball here, but understanding your own comfort level with rate risk helps you make a decision you won't second-guess. I'm happy to walk you through the trade-offs and help you think through what makes sense for your situation. Reach out if you'd like to talk through rate lock strategy before your next move.
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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 Brandy Harris team any time and we'll walk you through your options. |
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