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Mortgage Market Update
My Mortgage Company
Craig Barton
Thursday, September 3, 2026
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When rates drop, what changes for you |
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Hi there—thanks for staying in touch. This week I want to clear up a common question I hear a lot.
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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
What happens to your payment when rates drop
When mortgage rates fall, homeowners often wonder: does my payment go down automatically? The answer depends on your loan type. If you have a fixed-rate mortgage, your payment stays the same—rate changes don't affect what you owe each month. But a falling-rate environment does create an opportunity: refinancing lets you lock in a lower rate and potentially lower your monthly payment. Even a small rate reduction can add up to real savings over time. If you're curious whether refinancing makes sense for your situation, I'd be happy to walk you through the numbers and see what options might be available to you. Let's talk about whether a refinance could work for you.
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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
Craig Barton
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