Jerry Siegel · September 17, 2026

When rates move, your payment moves too

Mortgage Market Update

My Mortgage Company

Jerry Siegel

Thursday, September 17, 2026

When rates move, your payment moves too

Hi there. This week I want to touch on something that comes up constantly: how mortgage rates ripple through your budget and choices.

National Mortgage Rates · September 10, 2026

Conventional 30-Year

6.76%

FHA 30-Year

6.82%

VA 30-Year

6.71%
Rate trend

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.

Home Affordability

What changes when rates move

When interest rates shift, it affects more than just the number on your paperwork — it changes what you can actually afford. A rate increase means your monthly payment goes up on the same loan amount, which can narrow your buying power if you're shopping. The flip side: when rates drop, that same budget stretches further, or you can pay down your loan faster without changing your payment. Either way, understanding how rates touch your finances helps you make smarter decisions about timing, how much to borrow, or whether refinancing pencils out. If you're thinking about a purchase or curious whether your current situation has shifted, I'm here to walk through the real numbers with you.

Reach out anytime you'd like to talk through how your options look today.

Tip of the Week

Replace weatherstripping around exterior doors every few years. It's one of the cheapest ways to improve energy efficiency.

Tips for Homeowners

USDA Loans: A Zero-Down Option for Rural Buyers

1.

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.

2.

USDA loans have income limits — typically 115% of the area median income. Both the property location and borrower income must qualify.

3.

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.

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.

Your Mortgage Advisor

M

My Mortgage Company

Jerry Siegel

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