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Mortgage Market Update
Michael King
Michael King
Thursday, September 3, 2026
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Which loan program fits your needs? |
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Every borrower's situation is different, and so should your mortgage. This week I want to make sure you know what options are actually out there.
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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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Loan Programs
What loan program fits your situation?
Not all mortgages are created equal. Depending on where you are in your homeownership journey—whether you're buying for the first time, refinancing an existing loan, or tapping into your home's equity—different programs may work better for your goals and budget. Some borrowers benefit from fixed-rate stability. Others find adjustable-rate options helpful. And if you've built equity, you might have choices you didn't know existed. The right program can mean real savings over time and a payment structure that actually matches your life. I'd love to walk through what's available to you and how each one might play out.
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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 Michael King team any time and we'll walk you through your options. |
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619-944-1137 | https://www.barrettfinancial.com/michael-king
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