|
Mortgage Market Update
James S Boggs
James S Boggs
Thursday, September 10, 2026
|
Breaking down what your payment really covers |
|
Your mortgage payment is more than just interest and principal. Here's what else you're paying for each month—and what you should know about it.
|
|
National Mortgage Rates · September 10, 2026
|
Conventional 30-Year
6.76%
|
|
|
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%232672ac%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
|
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.
|
|
|
|
|
Mortgage Basics
What your monthly payment actually includes
When you get a mortgage quote, the payment number you see is doing a lot of heavy lifting. It covers principal and interest, yes—but it also typically includes property taxes, homeowners insurance, and mortgage insurance if you put down less than 20%. Understanding what each piece costs helps you budget better and spot where you might save money down the road. Some borrowers don't realize they can drop mortgage insurance once they've built enough equity, or that shopping for better insurance rates can lower that monthly number without refinancing. Knowing the full breakdown also helps you compare loan offers apples-to-apples. I'm happy to walk you through what your payment covers and where there might be room to optimize.
|
|
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.
|
|
Tips for Homeowners
VA Loans: Benefits Every Veteran Should Know
|
|
1.
|
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.
|
|
2.
|
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.
|
|
3.
|
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.
|
|
|
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. |
|
|
|
2701 East Insight Way, Suite 150, Chandler, AZ 85286
210-378-5189 | https://www.barrettfinancial.com/jboggs
You are receiving this from James S Boggs. Unsubscribe
|
