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Mortgage Market Update
Eric Painter
Eric Painter
Thursday, September 3, 2026
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Making your mortgage payment work for you |
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Hi there. This week I want to share something I wish every homeowner did from day one — a simple habit that keeps finances steady and options open.
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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 Habits
Your mortgage payment and your budget
One of the smartest moves you can make after closing on a home is to treat your mortgage payment as non-negotiable in your monthly budget — the way you'd treat rent or a car payment. I've seen borrowers who skip this step end up stretched too thin when life happens: a job change, a medical expense, or home repairs. Knowing your exact payment and setting it aside first helps you build a cushion for those moments and keeps you in control. It also makes it easier to spot opportunities down the road — like whether you might benefit from refinancing — because you'll have a clear picture of your finances. If you're not sure what your payment is, or if you'd like to talk through budgeting alongside your mortgage, I'm here to help. Let's review your payment and talk through what fits your life.
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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 Eric Painter team any time and we'll walk you through your options. |
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