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Mortgage Market Update
My Mortgage Company
Scott Rinehart
Thursday, September 3, 2026
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Your home is working for you |
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Hi there. I want to share something that gets lost in the month-to-month payment routine: your mortgage is quietly building your wealth.
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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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Equity Building
How your home builds wealth over time
Every mortgage payment you make does two things: it covers interest to your lender, and it builds equity—your ownership stake in the home. Early on, more of your payment goes toward interest. But as time passes, that balance shifts, and more of each payment goes straight into your pocket as equity. That's wealth building at work. Beyond payments, your home's value itself can grow, adding even more equity. This is why homeownership is often called a long-term wealth strategy. The longer you stay in your home, the more equity you accumulate—whether through payments, appreciation, or both. Understanding this helps you see your mortgage not just as an expense, but as an investment in your future. If you'd like to talk through your equity position or explore how refinancing might accelerate your wealth-building goals, 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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Scott Rinehart
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