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Mortgage Market Update
Matthew Richardson
Matthew Richardson
Tuesday, September 15, 2026
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How rates affect what you actually pay |
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Hi there. A lot of homeowners wonder what happens to their mortgage payment when rates move. Let me break it down.
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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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Affordability & Payments
When your payment changes, here's what to know
Interest rates move all the time, and when they do, the monthly payment on a new mortgage moves with them. If you're shopping around or thinking about refinancing, it helps to understand how even a small rate shift affects what you'll actually pay each month. The same loan amount at a different rate means a different payment—sometimes noticeably so. That's why it's worth getting current numbers before you decide. The good news: knowing how this works lets you make smarter choices about timing, loan terms, and whether refinancing makes sense for your situation. If you'd like to talk through what rates look like today and how they'd affect your specific numbers, I'm here to walk you through it. Reach out anytime—I'm happy to show you what your payment might look like and answer any questions.
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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 Matthew Richardson team any time and we'll walk you through your options. |
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