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Mortgage Market Update
Rita Rehana
Rita Rehana
Thursday, September 3, 2026
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What we need to know before you apply |
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Hi there. I want to walk you through the lending side of things—what we're really looking for when you come to us.
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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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Getting Ready
What lenders look at when you apply
When you're ready to buy or refinance, knowing what we're reviewing helps you prepare. We look at your credit history, income stability, existing debts, and down payment. We also want to understand your long-term plans—are you staying in this home for years, or is this a stepping stone? The stronger your overall picture, the smoother your process tends to go. If there are rough spots, we can often work around them or suggest ways to strengthen your application. The best time to talk is before you're in a hurry. Let's discuss where you stand and what might matter most for your situation.
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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 Rita Rehana team any time and we'll walk you through your options. |
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