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Mortgage Market Update
Justin Stein
B.E. Home Finance
Thursday, September 3, 2026
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Your home budget might be bigger than you realize |
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Hi there. Sometimes the biggest barrier to a good financial decision is not knowing where you actually stand. That's what I'm here to help with.
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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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Home Affordability
Your budget may stretch further than you think
A lot of people assume their home-buying budget is locked in stone, but the truth is it moves with the market. When rates shift, or when you've built up equity, or when your income changes, your actual purchasing power can go up—sometimes significantly. The same goes for existing homeowners: what felt like a stretch five years ago might feel manageable today, or vice versa. It's worth taking a fresh look at where you actually stand, especially if circumstances have changed since you last thought about it. I'd be happy to walk through the numbers with you and show you what's realistic for your situation. Reach out anytime you'd like an honest conversation about what you can afford.
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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 Justin Stein team any time and we'll walk you through your options. |
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