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Mortgage Market Update
Markiesia Scott
Markiesia Scott
Thursday, September 3, 2026
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What your mortgage payment really does |
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Hi there—this week I want to talk about something most people overlook when they think about their home loan. It's simple but powerful, and it might change how you view your mortgage.
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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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Smart Money
The one number that matters most right now
If you're a homeowner, you probably know your mortgage rate and your monthly payment. But there's a third number that deserves your attention: how much of each payment is actually going toward building equity versus paying interest. Early in your loan, most of your payment goes to interest—that's normal. But as time passes, the ratio shifts in your favor. Understanding where you stand helps you make smarter decisions about whether to stay the course, refinance, or make extra principal payments. It's one of those quiet financial moves that can shape your long-term wealth without requiring a dramatic change. I'd be happy to walk you through your numbers and show you exactly how your payments break down.
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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 Markiesia Scott team any time and we'll walk you through your options. |
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