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Mortgage Market Update
Robert Hendley
Robert Hendley
Thursday, September 3, 2026
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Your mortgage payment and interest rates |
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Hi — this week I'm breaking down something I hear about a lot: how interest rates connect to your monthly payment, and why it matters.
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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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Payment Planning
What happens to your mortgage payment when rates move
A lot of people ask me whether a rate change means their monthly payment goes up right away. The answer depends on what kind of loan you have. If you're on a fixed-rate mortgage, your payment stays the same for the life of the loan — that's the whole point of "fixed." But if you're considering an adjustable-rate loan, or thinking about refinancing, it's worth understanding how rate movements affect what you'll actually owe each month. When rates rise, your payment can increase; when they fall, you may have an opportunity to lower it. Knowing this helps you plan ahead and make smarter decisions about your finances. If you'd like to walk through how rates might affect your specific situation, I'm here to help.
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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 Robert Hendley team any time and we'll walk you through your options. |
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