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Mortgage Market Update
My Mortgage Company
Nicholas Akel — Nicholas Akel
Thursday, September 3, 2026
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When life changes, so can your mortgage |
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Hi there. I wanted to share something I see happen more often than you'd think: people assume their mortgage is set in stone once they close, but that's not always true.
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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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Affordability Check
When your budget shifts, your loan options might too
Life changes fast — a job change, inheritance, or shift in family plans can all affect what you're comfortable borrowing or how you want to structure your loan. The good news is that your options aren't locked in stone. Whether you're looking to lower your monthly payment, shorten your loan term, or adjust your strategy based on where you are now, it's worth revisiting the numbers with fresh eyes. I often find that borrowers don't realize how much their situation has improved since they first got their loan, or they haven't explored programs that might fit their current life better. There's no penalty in asking the question. If your circumstances have changed, I'd like to review what makes sense for you now.
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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
Nicholas Akel — Nicholas Akel
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