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Mortgage Market Update
My Mortgage Company
Deanna Parrish
Thursday, September 17, 2026
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What a rate drop means for you |
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Hi there—I wanted to touch base about something I hear questions on a lot: what actually changes when rates move in your favor.
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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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Smart Money
What happens to your payment when rates drop
When mortgage rates fall, homeowners with fixed-rate loans don't automatically benefit—your payment stays the same. But that doesn't mean you're out of luck. A lower rate environment can make refinancing make sense, since you'd be replacing your current loan with a new one at better terms. The catch is that refinancing involves costs and a new closing process, so it only works if the savings outweigh those expenses. That math is different for everyone depending on how long you plan to stay in your home. The good news is we can run the numbers together and show you whether it makes sense for your situation. If you're curious whether a refinance could work for you, let's talk through the details.
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Tip of the Week
Replace weatherstripping around exterior doors every few years. It's one of the cheapest ways to improve energy efficiency.
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Tips for Homeowners
USDA Loans: A Zero-Down Option for Rural Buyers
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1.
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USDA loans offer 100% financing (no down payment) for eligible properties in USDA-designated rural and suburban areas. The USDA's eligibility map may include areas closer to cities than you'd expect.
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2.
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USDA loans have income limits — typically 115% of the area median income. Both the property location and borrower income must qualify.
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3.
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There's an upfront guarantee fee (1% of the loan) and an annual fee (0.35% of the balance). These are lower than FHA mortgage insurance and can be rolled into the loan.
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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
Deanna Parrish
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