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Mortgage Market Update
My Mortgage Company
Spencer Javier
Wednesday, September 16, 2026
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How rate changes affect your monthly payment |
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Hello—this week I want to talk about one of the most direct connections in mortgage lending: the relationship between interest rates and what you actually pay each month.
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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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Payment Shock
What happens to your payment when rates rise
If you're thinking about buying or refinancing, it helps to understand how interest rates directly affect your monthly payment. When rates go up, your payment goes up—even on the same loan amount. The opposite is true too: lower rates mean lower payments. This matters because it changes what you can actually afford to borrow, and it affects whether refinancing makes sense for you right now. The best approach is to look at your situation with fresh eyes: what does your payment look like today, and how would it change under different rate scenarios? That's information worth having before you make a move. Let's walk through what your payment might look like—reach out anytime.
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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 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
Spencer Javier
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