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Mortgage Market Update
My Mortgage Company
Lance Monson
Thursday, September 3, 2026
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Should you move on a rate drop? |
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Hi there. Markets move, and so do mortgage rates. Here's how to think about it.
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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 to do when rates drop
When mortgage rates move lower, homeowners often wonder if they should act. The truth is, it depends on your situation. If you're in a loan with a higher rate, refinancing might make sense—but only if the long-term savings outweigh the costs involved. Others might simply continue with their current loan and enjoy the knowledge that their home is building equity. The key is understanding your own timeline and goals, not chasing every rate movement. I'm happy to run through the numbers with you and show what a rate shift could mean for your specific loan. Give me a call or send a message whenever you'd like to talk 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
Lance Monson
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