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Mortgage Market Update
My Mortgage Company
Kurt Kessler - 2
Thursday, September 3, 2026
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What lower rates actually mean for you |
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Hi there. This week I'm breaking down a question I hear a lot: what really happens when mortgage rates move.
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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
A lot of homeowners wonder whether falling rates automatically help them. The truth is simpler than you might think: if you have a fixed-rate mortgage, your payment stays the same no matter what happens to rates. That's the trade-off of locking in a rate when you close. But there are strategic moves you can make—like refinancing—if rates move enough to make sense for your situation. And if you're in the market now, lower rates mean better affordability on the home you want. The key is understanding your own timeline and goals so you can decide what action, if any, makes sense for you. If you're curious whether your situation has changed, I'm always happy to walk through your 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 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
Kurt Kessler - 2
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