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Mortgage Market Update
My Mortgage Company
Brian Sammon
Thursday, September 3, 2026
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How much equity have you built? |
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Hi there—one of the best parts of homeownership often goes unnoticed. I'd like to highlight something that's working in your favor right now.
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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
Your mortgage is working for you every month
Every payment you make builds equity in your home—that's money that stays with you. Whether you're early in your loan or years in, a portion of each payment goes straight toward ownership. Understanding how much equity you've built can open doors: it's the foundation for refinancing, home improvements, or even accessing funds when you need them. If you haven't checked your equity position lately, now's a good time. Market changes and your own payments might have moved that number more than you realize, and it could affect your options down the road. Let's talk about what your equity means for your next move.
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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
Brian Sammon
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