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Mortgage Market Update
My Mortgage Company
Cole Stephens
Thursday, September 3, 2026
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Your home equity explained |
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Hi there. This week I want to walk you through something many homeowners overlook—and why it matters.
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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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Equity & Refinancing
What your home equity can do for you
If you've been in your home for a few years, you likely have built up equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. It can be a financial tool. Whether you're thinking about refinancing, making home improvements, consolidating debt, or preparing for a life change, understanding what you've built is the first step. The right move depends on your goals and your situation, which is why I always recommend having a real conversation about your options before deciding anything. Let's talk about what your equity means for your next move.
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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
Cole Stephens
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