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Mortgage Market Update
My Mortgage Company
Jon Woodard
Thursday, September 17, 2026
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When rates move, your payment moves too |
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Hi there. I wanted to walk you through something I explain to borrowers all the time—the real connection between interest rates and the money that leaves your account every 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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Affordability & Payments
How rate changes ripple through your monthly payment
When mortgage rates move, your monthly payment moves with them—sometimes more than borrowers expect. A small rate shift can mean the difference between comfortable and stretched in your budget. The opposite is true too: if rates fall, your payment can ease up. Understanding this relationship helps you plan ahead and know when it might be worth a conversation about your options. Whether you're shopping for a home, already locked in, or thinking about refinancing, knowing how rates affect what you actually pay each month is one of the clearest ways to stay in control of your finances. Let's talk about what rate movements could mean for your specific situation.
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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
Jon Woodard
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