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Mortgage Market Update
Joey Rivero
Clear Choice Lending Group
Thursday, September 3, 2026
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One way to tap into your home's equity |
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Home equity isn't just a number on paper—it can be a tool. Let me explain what I mean.
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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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Cash-Out Options
What you can actually do with your home's equity
If you've built equity in your home, you have options. A cash-out refinance lets you borrow against that equity and receive the difference in cash—money you can use for home improvements, debt payoff, education, or whatever makes sense for your situation. It's not free money, but it can be a smart way to access funds at a mortgage rate, which is often lower than other borrowing options. The key is understanding the trade-offs: you're extending your loan term and taking cash now in exchange for a longer payoff period. That's why it makes sense to talk through whether it fits your goals and timeline before moving forward. If you're curious whether a cash-out refinance makes sense for you, I'm happy to walk through the numbers and options.
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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 Joey Rivero team any time and we'll walk you through your options. |
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