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Mortgage Market Update
James S Boggs
James S Boggs
Wednesday, September 16, 2026
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What happens when rates move in your favor |
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Hi there. I wanted to touch base this week about how rate changes can open doors you might not have considered before.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.76%
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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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Rate Movement
When rates drop, your options multiply
A lot of people think about interest rates as a one-time decision—you lock in a number and that's that. But the truth is, rates are always moving, and when they shift in your favor, new opportunities open up. A meaningful drop might make refinancing worth your while. It could also change what you can afford if you're shopping for a home. Even if neither applies to you right now, understanding how rate movement affects your financial picture helps you stay ahead. The key is not to panic when rates go up or get complacent when they go down—just stay aware and reach out when something changes.
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Tip of the Week
Gift funds from family can be used toward a down payment on most loan types — your lender will need a simple gift letter.
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Tips for Homeowners
VA Loans: Benefits Every Veteran Should Know
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1.
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VA loans require no down payment and no private mortgage insurance (PMI), making them one of the most powerful home-buying tools available to eligible veterans, active-duty service members, and surviving spouses.
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2.
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VA loans do require a funding fee (typically 1.25%–3.3% of the loan amount), which can be rolled into the loan. Veterans with a service-connected disability rating may be exempt from this fee.
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3.
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There's no VA loan limit for eligible borrowers with full entitlement — you can finance as much as a lender will approve. If you've had a prior VA loan, partial entitlement rules may apply.
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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 James S Boggs team any time and we'll walk you through your options. |
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2701 East Insight Way, Suite 150, Chandler, AZ 85286
210-378-5189 | https://www.barrettfinancial.com/jboggs
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