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Mortgage Market Update
Ross Osten
Ross Osten
Thursday, September 3, 2026
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When rates move, here's what changes for you |
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Rates are always moving, and I know that can feel confusing. This week I want to break down exactly how those movements affect your mortgage—whether you're buying or already a homeowner.
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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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Rate Movement
What happens to your payment when rates shift
A lot of people ask me: if rates go up or down a quarter point, what does that actually mean for my monthly payment? The answer depends on whether you're shopping for a new mortgage or thinking about refinancing an existing one. If you're in the market to buy, even small rate changes can affect how much home you can afford and what you'll pay each month. If you already have a mortgage, rate changes matter most if you're considering a refinance—and it's worth running the numbers to see if it makes sense for your situation. The key is understanding how rates tie directly to your wallet, not just the headlines. Let me walk you through what a rate move would mean for you—just reach out and we can talk through your specific scenario.
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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 Ross Osten team any time and we'll walk you through your options. |
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