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Mortgage Market Update
Emily Torvik
Emily J Torvik
Thursday, September 3, 2026
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What a rate move really costs you |
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Hi there. This week I want to walk you through something I see borrowers overlook all the time—the real impact of rate changes on your budget.
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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 changes when your rate moves
Most borrowers think about rates in terms of a number on paper. But what really matters is how a rate change affects your monthly payment and whether a home stays affordable for you. Even a modest shift in rates can meaningfully change what you can comfortably borrow or whether refinancing makes sense. The flip side: if rates move favorably, your existing payment might not change, but your equity picture does. Understanding this connection helps you make smarter decisions about buying, refinancing, or holding steady. I'm here to walk through what any rate movement means for your specific situation. Let's talk about how today's rates affect your goals.
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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 Emily Torvik team any time and we'll walk you through your options. |
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