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Mortgage Market Update
Gaby Lockhart
Gaby Lockhart
Thursday, September 3, 2026
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How rate changes affect what you can afford |
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Hi there. This week I want to talk about something that catches a lot of borrowers off guard: the connection between mortgage rates and your actual buying power.
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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
What changing rates mean for your buying power
When mortgage rates move, your affordability shifts too—sometimes in ways that surprise people. A higher rate doesn't just mean a bigger monthly payment; it also affects how much home you can qualify to borrow. On the flip side, if rates drop, that same budget might unlock access to a more expensive property. Understanding this relationship helps you plan smarter, whether you're shopping now or thinking ahead. If you've been watching the market and wondering how recent moves have changed your position, I'd be glad to run the numbers with you and show you exactly where you stand. Reach out anytime—I'm here to help you understand what your budget can really do.
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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 Gaby Lockhart team any time and we'll walk you through your options. |
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