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Mortgage Market Update
My Mortgage Company
Lindsey Carioti
Thursday, September 3, 2026
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How rates affect what you actually pay |
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Hi there,
I wanted to break down something that comes up in almost every conversation I have with borrowers.
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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 move
A lot of borrowers ask me how interest rates actually affect their monthly mortgage payment — and it's worth understanding. When rates rise, your payment goes up because you're borrowing money at a higher cost. When rates fall, the opposite happens: your payment could be lower. The relationship is direct and immediate on new loans. But here's the thing: if you already have a mortgage, your payment is locked in and won't change unless you refinance. That's when knowing the current rate environment becomes really useful — you can compare what you're paying now to what's available, and decide if a refinance makes sense for your situation. The math is simpler than it seems, and I'm happy to walk you through it. Reach out whenever you'd like to talk through your options — no pressure, just clarity.
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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
Lindsey Carioti
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