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Mortgage Market Update
My Mortgage Company
Will Insure LLC. | Sean Carter
Friday, September 4, 2026
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You might have more equity than you think |
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Welcome back. This week, I want to remind you of something powerful that's happening quietly in the background of your mortgage.
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National Mortgage Rates · September 3, 2026
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Conventional 30-Year
6.71%
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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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Home Equity 101
Your home is building wealth every month
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. Over time, this becomes real money you can tap into if you need it. Some borrowers use equity for home repairs, education, or debt consolidation through a home equity line of credit or cash-out refinance. The more you pay down your loan and the more your home appreciates, the more equity you have working for you. It's one of the reasons homeownership tends to build wealth differently than renting. If you've been in your home for a few years, you might be surprised how much equity you've built up. I'd love to help you understand your options. Reach out anytime—let's talk about what your equity might mean for your financial goals.
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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
Will Insure LLC. | Sean Carter
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