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Mortgage Market Update
Bowen Du
Bowen Du
Monday, September 7, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to talk about something that often goes overlooked: the value you've already built in your home.
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National Mortgage Rates · September 3, 2026
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Conventional 30-Year
6.71%
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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 Equity
Your home's value might be working for you
If you've owned your home for a few years, you likely have built some equity—the difference between what your home is worth and what you still owe on your mortgage. That equity can be a real financial tool. Some homeowners tap into it through a cash-out refinance or a home equity line of credit to pay for major repairs, consolidate debt, or fund other goals. Others simply let it grow as their home appreciates and their loan balance shrinks. Either way, understanding what you have available is smart money management. The first step is getting a clear picture of your home's current value and how much you've paid down. I'd be happy to help you figure out where you stand and what options might make sense for your situation. Let's take a look at your equity and talk through what might work best 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 Bowen Du team any time and we'll walk you through your options. |
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