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Mortgage Market Update
My Mortgage Company
Robie Chapa's Team
Thursday, September 3, 2026
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What a little extra on your mortgage could do |
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Every homeowner wants to build wealth faster. Sometimes the most powerful moves are the simplest ones.
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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
Why extra payments matter more than you think
If you've got some breathing room in your budget, putting a little extra toward your mortgage principal each month can make a real difference over time. Even modest additional payments can shorten your loan term and reduce the total interest you'll pay. The beauty is flexibility — you're not locked into anything, and there's no penalty for paying down your balance faster. It's one of the most straightforward ways homeowners take control of their financial picture without waiting for rates to drop or markets to shift. If you're curious whether this strategy makes sense for your situation, I'm happy to walk through the numbers with you. Let's talk about whether accelerated payments could work 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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Robie Chapa's Team
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