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Mortgage Market Update
My Mortgage Company
Nathan Grant
Thursday, September 17, 2026
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What rising rates actually mean for you |
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Hi there. This week I want to clear up something I hear confused a lot: how interest rates translate into real changes for homeowners.
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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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Mortgage Basics
What happens to your payment when rates change
A lot of people ask me how rate movements actually affect their monthly mortgage payment. Here's the straightforward answer: when rates go up, your payment goes up (assuming the same loan amount and term). When rates go down, your payment goes down. The relationship is direct. What's less obvious is that your payment isn't the only thing that shifts—your total interest cost over the life of the loan changes too. That's why paying attention to rate environment matters, even if you're not refinancing right now. Understanding this helps you make smarter decisions about timing, whether you're buying soon or thinking ahead about your current loan. If you'd like to talk through how rates might affect your situation, I'm here to walk you through it.
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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
Nathan Grant
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