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Mortgage Market Update
Dave Jenks
Dave Jenks
Thursday, September 3, 2026
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Why your monthly payment matters more than you think |
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Hi there. This week I want to walk through something fundamental that affects every borrower: how rates and payments connect, and why understanding that relationship helps you make better decisions.
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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 payment when rates change
I get asked this a lot: if rates move up or down, does my payment automatically adjust? The answer depends on what kind of loan you have. If you're locked into a fixed-rate mortgage, your payment stays the same for the life of the loan—that's the security of fixed-rate borrowing. But if you're considering an adjustable-rate loan or wondering about a refinance, it's worth understanding how rate changes could affect what you owe each month. The relationship between rates and payments is one of the most important things to grasp as a borrower, because it helps you plan ahead and make moves that work for your situation. Let's talk through what rate movement means for your specific loan—reach out anytime.
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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 Dave Jenks team any time and we'll walk you through your options. |
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