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Mortgage Market Update
My Mortgage Company
Amy Libonate
Thursday, September 3, 2026
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Your payment is doing more than you think |
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I want to share something that changed how many of my clients think about their mortgage: what really happens with each payment you make.
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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
What your monthly payment is really doing
Every mortgage payment you make does two things: some goes toward interest, and some goes toward building your equity—your ownership stake in the home. Early on, more of that payment covers interest. But as time goes on, the balance shifts, and more of each payment builds equity you can tap into later. Understanding this split matters because it shows you're not just paying a lender—you're investing in yourself. The longer you stay in your home, the more powerful this becomes. If you're curious about how much equity you might have right now, or whether a refinance could shift that balance in your favor sooner, I'd love to take a look at your situation. Let's talk about your equity and what options might be available to 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
Amy Libonate
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